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 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 General and administrative expenses Indirect labor Repair3-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,200 17,500 8,500 31,250 22,800 17,750 26, 200 6,700 14,850 13,600 28,500 1,600 6,020 44,000 58,000 225,030 22,000 237,500 17,000 Pepper Company S 16,450 23, 850 12,750 22,300 35,000 14,000 17,200 7,400 15,250 4,900 52, 500 7,780 3,100 62,000 52,300 322,510 24,200 169, 825 23,450 Required 1-a. Prepare income statements for both Garcon Company and Pepper Company. 1-b. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the income statement for Garcon Company GARCON COMPANY ncome Statement For Year Ended December 31, 2017 Operating expenses Income (loss) before tax Complete this question by entering your answers in the tabs below Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the income statement for Pepper Company PEPPER COMPANY Income Statement For Year Ended December 31, 2017 Operating expenses Income (loss) before tax Complete this question by entering your answers in the tabs below Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2017 Inventories Total current assets Complete this question by entering your answers in the tabs below Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the current asset section of the balance sheet for Pepper Company PEPPER COMPANY Partial Balance Sheet As of December 31, 2017 Inventories Total current assets