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 $ 13,100 Pepper Company $ 19,000 14,600 23,700 10,400 11,250 33,250 26,650 23,400 37,000 21,500 15,400 Work in process inventory, ending Raw materials inventory, ending 27,400 17,000 7,300 9,200 Factory utilities 13,500 17,000 General and administrative expenses 28,000 49,500 Indirect labor 11,600 13,860 Repairs-Factory equipment 6,380 1,600 Raw materials purchases 47,000 69,500 Selling expenses 63,600 47,500 Sales 290,640 388,140 Cash 27,000 16,200 Accounts receivable, net 15,600 20,200 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.