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. Garcon Pepper Company Company Finished goods inventory, beginning $ 14,900 $ 16, 150 Work in process inventory, beginning 15,900 20, 409 Raw materials inventory, beginning 8, 100 9,300 Rental cost on factory equipment 29,506 23, 880 Direct labor 21, 690 37, 809 Finished goods inventory, ending 19,556 14,500 Work in process inventory, ending 27,780 20, 808 Raw materials inventory, ending 6, 190 9, 609 Factory utilities 10,950 14,750 General and administrative expenses 24,090 46, 080 Indirect labor 14, 690 15, 440 Repairs-Factory equipment 4,940 1, 600 Raw materials purchases 36,000 56,500 Selling expenses 50,406 53, 800 Sales 281, 760 378, 460 Cash 23,006 19,708 Accounts receivable, net 14,800 21, 780 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.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 Reg 1 Garcon Reg 1 PepperRequired information 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 Cost of goods sold Net incomeRequired information 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 Required information 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 $