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 Cash Accounts receivable, net Garcon Company $ 12,000 14,500 7,250 27,000 19, eee 17,650 22,eee 5,388 9,880 21, eee 9,450 4,780 33,000 50, eee 195,30 20,000 13,200 Pepper Company $ 16,450 19,95 9,000 22,750 35,000 13, 380 16,000 7,200 12,080 43, eee 10,860 1,500 52,888 46,000 290,010 15,700 19,450 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company