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, Ibeginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Garcon Company $ 14,100 18,300 Pepper Company $ 18,850 23,400 7,100 13,500 34,500 26,800 24,800 38,200 Finished goods inventory, ending 21,200 15,200 Work in process inventory, ending 25,000 19,800 Raw materials inventory, ending 5,500 9,400 Factory utilities 14,100 17,500 General and administrative expenses 22,500 45,500 Indirect labor 13,350 13,360 Repairs-Factory equipment 7,700 3,650 Raw materials purchases 45,000 55,000 Selling expenses 62,400 55,600 Sales 275,190 381,920 Cash 21,000 16,700 Accounts receivable, net 14,200 21,200 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below.