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 $ 12,500 15,500 10,000 32,750 21,200 17,300 23,200 7,300 11,400 13,600 23,500 1,909 6,149 34,000 60,800 229,530 30, eee 287,500 15,800 Pepper Company $ 19,300 21,300 14,400 24,100 37,880 14,900 17,200 8,000 14,250 4,600 47,000 7,960 1,999 69,000 49,000 325,010 19, 200 145,825 23,450 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 Required: 1. Prepare income statements for both Garcon Company and Per 2. Prepare the current assets section of the balance sheet for ea Complete this question by entering your answers in the tal Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. EA 229,530 GARCON COMPANY Income Statement For Year Ended December 31, 2019 Sales $ Add. Cost of goods sold (Gross profit Operating expenses Selling expenses General and administrative expenses 229,530 Income (loss) before tax $ 229,530 2. Prepare the current assets section of the balance sheet Complete this question by entering your answers in t Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses Income (loss) before tax $ 0 Req 1 Garcon Required: 1. Prepare income statements for both Garcon Company and 2. Prepare the current assets section of the balance sheet for Complete this question by entering your answers in the Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garco GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets $ 0