Required information [The following information applies to the questions displayed belo w] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Pepper Company Company Finished goods inventory, beginning $ 14,100 $ 17,950 Work in process inventory, beginning 18,500 23,850 Raw materials inventory, beginning 11,400 12,600 Rental cost on factory equipment 28,000 26,500 Direct labor 21,600 41,400 Finished goods inventory, ending 18,650 13,900 Work in process inventory, ending 23,200 16,000 Raw materials inventory, ending 6,400 7,400 Factory utilities 13,050 13,500 General and administrative expenses 28,500 45,500 Indirect labor 9,700 13,420 RepairsFactory equipment 4,820 3,300 Raw materials purchases 38,500 69,500 Selling expenses 52,000 54,400 Sales 292,020 386,200 Cash 35,000 24,200 Accounts receivable, net 16,200 19,700 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. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 $ 0 Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 Net income $ 0 Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0 Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets 0