Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company. Pepper Company $ 18,250 20,700 11,100 24,700 41,400 13,300 21,800 Garcon Company Beginning finished goods (12) os $ 13,200 inventory Beginning work in 18,600 process inventory Beginning raw materials 7,900 inventory Rental cost on factory 32,500 equipment Direct labor 23,600 Ending finished goods 21,800 inventory Ending work in process 24,100 inventory Ending raw materials 6,100 inventory Factory utilities 14,550 Factory supplies used 8,800 General and 33,500 administrative expenses Indirect labor 2,050 Repairs-Factory 5,660 equipment Raw materials purchases 36,500 Selling expenses 63,600 Sales 231,030 Cash 25,000 Factory equipment, net 237,500 Accounts receivable, net 16,000 8,400 12,000 5,800 53,500 8,680 2,750 59,000 54,400 302,510 17,200 118,825 21,700 Exercise 14-9 Preparing financial statements for a manufacturer LO C4, P2 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. Reg 1A Reg 1A Reg 1B Reg 1B Garcon Pepper Garcon Pepper Prepare the income statement for Garcon Company. GARCON 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 Reg 1A Reg 1B Reg 1B Garcon Pepper Garcon Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2017 Operating expenses Income (loss) before tax Exercise 14-9 Preparing financial statements for a manufacturer LO C4, P2 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 Req 1A Reg 1B Reg 1B Garcon Pepper Garcon 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. Reg 1A Reg 1A Reg 1B Reg 1B Garcon Pepper Garcon 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
