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 Compony. Garcon Company $ 12,200 15,000 Pepper Company 18,700 21,600 $ 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 7,300 32,25 22,888 20,600 23,800 5,500 10,500 9,400 26,000 2,450 6,148 43,000 50,888 228,030 29,000 272,500 14,888 14,700 23,500 39,400 13, 200 17,200 7,200 14,750 3,700 46,000 9,340 2,500 64,000 48, 100 317,510 16,700 145,825 22,700 Exercise 14.9 Preparing financial statements for a manufacturer LO C4, P2 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. Reg 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company GARCON COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax