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 Garcon 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 $ 12,5ee 17,980 9,480 31,750 22, 280 18,050 24,700 5,8ee 18,650 10, eee 24,500 2,200 7,220 37,580 58, 205, 530 28, eee 242,580 16,000 Pepper Company $ 17,280 20, 250 18,950 24,780 39,800 13,680 20,200 9,680 17,500 4,000 54,500 9,640 2, ese 54,500 58, 380 320,10 24, 200 138,825 20,780 8 Required information 1. Prepare Income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. art 2 of 2 Complete this question by entering your answers in the tabs below. ints Req 1 Garcon Reg 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. eBook Hint GARCON COMPANY Income Statement For Year Ended December 31, 2019 Sales $ Less: Cost of goods sold Gross profit Operating expenses 205,530 Print 205,530 References Income (loss) before tax S 205,530 Reg 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company, PEPPER COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax $ 0 Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets S 0 Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 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 0 Total current assets $