Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Garcon Company Beginning work in process inventory Beginning finished goods inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment $ 12,000 Pepper Company $ 16,450 14,500 19,950 7,250 9,000 27,000 22,750 Direct labor 19,000 35,000 Ending finished goods inventory 17,650 13,300 Ending work in process inventory 22,000 16,000 Ending raw materials inventory 5,300 7,200 Factory utilities 9,000 12,000 Factory supplies used (indirect materials) 8,200 3,200 General and administrative expenses 21,000 43,000 es Indirect labor 1,250 7,660 Repairs-Factory equipment 4,780 1,500 Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 33,000 52,000 50,000 46,000 195,030 290,010 20,000 15,700 212-500 115,825 13,200 19,450 nces Required: 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 income statement for Pepper Company. PEPPER COMPANY Income Statement