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 Garcon Company $ 14,500 Pepper Company $ 19,450 17,700 21,750 11,100. 9,300 27,500 23,050 Direct labor 22,000 41,400 Finished goods inventory, ending 19,700 15,500 Work in process inventory, ending 22,300 17,200 Raw materials inventory, ending 7,600 7,800 Factory utilities 13,350 17,250 General and administrative expenses 27,500 45,500 Indirect labor 13,000 14,740 Repairs-Factory equipment 5,540 1,650 Raw materials purchases 38,000 67,000 Selling expenses 61,200 58,000 Sales 286,680 384,600 Cash 22,000 19,200 Accounts receivable, net 15,200 20,450 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.