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 Canh Accounts receivable, not Garcon Company $ 14,700 18,700 11,900 30,000 20,000 19,250 22,000 7,300 10,500 23,500 12,150 7,580 46,500 57,200 279,150 21,000 16,800 Pepper Company $ 17,800 19,500 10,350 25,900 42,600 13,800 20,600 8,600 15.500 54,000 13, 140 3,750 55,000 50,200 382,320 19,700 23,200 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company Req 1 Garcon Req 1 Pepper Reg 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 $ Reg1 Garcon Req 1 Pepper > 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 Req 1 Garcon Req 1 Pepper Req 2 Garcon Reg 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 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 0