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 $ 14,300 15,700 10,400 31,500 22,000 17,900 23,800 6,700 12,000 12,700 24,000 1,250 5,060 37,500 55,200 229,530 27,000 272,500 15,000 Pepper Company $ 17,200 19,650 12,000 26,050 43,800 13,900 22, 9,000 15,750 4,200 52,500 8,200 3,650 56,500 51,100 332,510 23,200 160,825 24,200 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 i Garcon Req 1 Pepper Req 2 Garcon Reg 2 Pepper h Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax $ 0 Rog Garcon Req 1 Pepper Req 1 Garcon Req 1 Pepper Req 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 Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 4 Inventories: 0 0 Total current assets $ Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 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