Required information [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Garcon Company $ 13,500 18,000 Pepper Company $ 19,000 19,800 7,500 12,450 Rental cost on factory equipment 34,250 23,200 Direct labor 23,400 42,200 Ending finished goods inventory 19.100 16.100 Ending work in process inventory 23,200 18,000 Ending raw materials inventory 7,600 9,200 Factory utilities 9.150 17,000 Factory supplies used (indirect materials). 9,400 5,700 General and administrative expenses 31,500 59,500 Indirect labor 1,950 9,160 Repairs-Factory equipment 6,860 3,150 Raw materials purchases 42,000 57,500 Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 56,400 49,000 202,530 322,510 26,000 20,700 237,500 157,825 15,800 23,700 Required: 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.