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 $31.$

Exercise $18-8($Algo$)$ Preparing financial statements for a manufacturer LO P$1$

Prepare income statements for both Garcon Company and Pepper Company.

Prepare the current assets section of the balance sheet for each company.

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Prepare the income statement for Garcon Company.