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 $ 13,200 17,600 7,900 31,500 23,200 20,000 24,400 6,100 11,100 10,000 27.500 1,950 7,700 43,500 54,800 237,30 31,080 277,500 16,200 Pepper Company $ 17,500 21,450 9,300 23,500 37,800 15,900 21,400 9,800 18,000 3,800 51,500 8,260 2,400 53,500 56,800 345,010 20,760 145,825 24,450 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. Reg 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement arch o Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 1,950 7,700 43,500 54,800 237,239 31,080 277,500 16,200 8,260 2,400 53,500 56,800 345,010 20,700 145,825 24,450 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 Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company, GARCON COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax Req 1 Pepper > earch O R SAMSUNG