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. Garcon Company $ 12,500 16,700 8,400 32,000 19,600 19,400 24,100 6,200 9,750 26,500 11,900 5,780 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 43,000 50,400 294,450 23,000 15,000 Pepper Company $ 17,200 23,550 11,700 22,900 42,600 14,400 17,000 9,800 14,000 52,000 13,740 2,100 61,000 49,000 393,620 22,700 19,700 1. Prepare income statements for both Garcon Company and Pepper Company.

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. 1. Prepare income statements for both Garcon Company and Pepper Company. 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. Prepare the income statement for Garcon Company. Prepare the income statement for Garcon Company. Prepare the income statement for Pepper Company. Prepare the current asset section of the balance sheet for Garcon Company. Prepare the current asset section of the balance sheet for Pepper Company