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 $ 12,900 17,200 8,700 29,250 24,000 19,250 26,800 6,800 13,200 11,800 27,500 1,800 6,380 39,000 54,800 223,530 32,000 227,500 16,400 Pepper Company 12,500 23,250 13,650 22,150 40,200 15,900 17,400 7,800 16,750 3,200 53,500 9,100 2,800 52,500 56,800 335, 010 20,700 145,825 19,700 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. 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 Required: 1. Compute the total prime costs for both Garcon Company and Pepper Company 2. Compute the total conversion costs for both Garcon Company and Pepper Company Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total prime costs for both Garcon Company and Pepper Company, Garson Company Pepper Company Direct materials Raw materials available for use 0 0 Direct materials used 0 0 0 5 0 Total prime costs