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 $ 14,200 18,200 10,500 31,250 20,600 17,150 26,800 6,400 11,550 10,900 27,500 2,200 6,500 39,000 61,200 247,530 33,000 217,500 14,400 Pepper Company $ 18,250 21,600 14,550 24,850 40,200 15,600 17,600 8,200 14,750 3,500 50,500 9,760 2,600 56,000 48,700 317,510 23,200 124,825 19,450 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. ! Required information Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses Income (loss) before tax $ $ 0 Reg 1 Garcon Req 1 Pepper > 3 Reg 1 Garcon Req 1 Pelper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company PEPPER COMPANY Income Statement For Year Ended December 31, 2019 ces 0 Operating expenses Income (loss) before tax $ D Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reqt2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets $ 0