Required information Use the following information for the Exercises below. (Algo) [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 Garcon Company $ 12,600 Pepper Company $ 16,150 23,550 17,400 12,000 9,750 34,750 24,100 22,000 36,200 Finished goods inventory, ending 17,150 14,200 Work in process inventory, ending 26,800 16,800 Raw materials inventory, ending 7,600 7,600 Factory utilities 14,850 13,500 General and administrative expenses 25,500 54,000 Indirect labor 14,450 13,600 Repairs-Factory equipment 7,820 3,100 Raw materials purchases 45,500 69,500 Selling expenses 60,800 51,100 Sales 281,400 399,820 Cash: 28,000 15,700 Accounts receivable, net 13,800 22,950 Exercise 14-8 (Algo) Preparing financial statements for a manufacturer LO P1 1. Prepare Income statements for both Garcon Company and Pepper Company. < Prev 12 82 of 13 Next >