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 Garcon Company $ 14,100 Pepper Company $ 19,450 17,900 23,550 11,200 14,100 34,250 25,300 20,200 36,200 Finished goods inventory, ending 18,800. 16,300 Work in process inventory, ending 25,900 19,600 Raw materials inventory, ending 5,400 8,000 Factory utilities 14,850 15,000 General and administrative expenses 31,000 50,000 Indirect labor 10,000 12,440 Repairs-Factory equipment 6,980 3,950 Raw materials purchases 45,500 58,500 Selling expenses 56,800 52,300 Sales 295,620 389,580 Cash 22,000 22,700 Accounts receivable, net 15,400 22,200 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.