Required information [The following information applies to the questions displayed below.] The following data is provided...

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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 $ 14,600 15,700 Pepper Company $ 19,000 23,400 11, 250 9,200 33,750 22,600 19,800 40,200 Finished goods inventory, ending 21,200 14,700 Work in process inventory, ending Raw materials inventory, ending Factory utilities 26,200 21,400 6,800 8,200 13,800 16,750 General and administrative expenses 31,000 56,500 Indirect labor 14,600 12,240 Repairs-Factory equipment 6,620 2,100 Raw materials purchases 37,000 58,500 Selling expenses 55,600 59,200 Sales 275,310 383,140 Cash 30,000 24,700 Accounts receivable, net 14,200 23,450 . Prepare income statements for both Garcon Company and Pepper Company. Prepare the current assets section of the balance sheet for each company. 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 $ 14,600 15,700 Pepper Company $ 19,000 23,400 11, 250 9,200 33,750 22,600 19,800 40,200 Finished goods inventory, ending 21,200 14,700 Work in process inventory, ending Raw materials inventory, ending Factory utilities 26,200 21,400 6,800 8,200 13,800 16,750 General and administrative expenses 31,000 56,500 Indirect labor 14,600 12,240 Repairs-Factory equipment 6,620 2,100 Raw materials purchases 37,000 58,500 Selling expenses 55,600 59,200 Sales 275,310 383,140 Cash 30,000 24,700 Accounts receivable, net 14,200 23,450 . Prepare income statements for both Garcon Company and Pepper Company. Prepare the current assets section of the balance sheet for each company.