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) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 14,200 14,800 8,109 29,500 21,000 19,250 25,000 5,898 9,150 10,990 25,500 1,500 6,268 38,000 60, 800 244,532 30,000 257, 500 15,600 Pepper Company $ 16,600 20,250 9,150 25,452 37,488 14,982 21,200 9,480 17,500 4,289 54,500 9,280 2,550 69,000 57,100 302,510 16,700 175,825 22,280 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. 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, 2019 0 Operating expenses Income (loss) before tax $ 0 Reg 1 Garcon Reg 1 Pepper