Required information [The following information applies to the questions displayed below] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Garcon Company $ 14,700 15,400 Pepper Company $ 19,000 19,650 8,900 13,350 33,500 23,050 24,800 37,000 20,600 16,100 Work in process inventory, ending 23,200 21,800 Raw materials inventory, ending 6,300 8,400 Factory utilities 9,450 13,250 General and administrative expenses 21,000 57,500 Indirect labor 11,950 13,340 Repairs-Factory equipment 5,420 3,400 Raw materials purchases 39,000 67,000 Selling expenses 58,800 59,200 Sales 284,070 385,120 Cash. 29,000 23,700 ences Accounts receivable, net 17,000 21,950 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company 12 ook Required information Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold: int Print Goods available for sale D erences Cost of goods sold 0 0 4 $ ter 14 Homework i 4 1 of 2 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company Complete this question by entering your answers in the tabs below. Book Hint Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Print erences Goods available for sale Cost of goods sold 0 0 Net income $ 0 es Indirect labor 11,950 13,340 Repairs-Factory equipment 5,420 3,400 Raw materials purchases 39,000 67,000 Selling expenses 58,800 59,200 Sales 284,070 385,120 Cash 29,000 23,700 Accounts receivable, net. 17,000 21,950 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet Current Assets Section December 31 Total current assets $ < Req 1 Pepper Req 2 Pepper > 85 oints 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. eBook Complete this question by entering your answers in the tabs below. 101 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Hint Print References Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0