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 Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,900 15,100 11,500 33,000 21,600 19,700 25,000 6,300 13,200 23,000 12,700 7,220 41,000 59,200 280,560 28,000 14,400 Pepper Company $ 19,750 20,400 10,350 25,900 38,200 13,300 20,000 8,200 17,750 56,000 12,880 1,650 61,500 51,400 383,140 19,700 22,700 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 ROS1 Garcon Reg1 Pepper 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 income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 ces Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 Net income $ 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 Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section+ December 31 ces Total current assets $ Required information Complete this question by entering your answers in the tabs below. Reg 1 Garcon Req 1 Pepper Reg 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 $