Required information Use the following information for the Exercises below. Skip to question [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning finished goods inventory $ 14,300 $ 16,750 Beginning work in process inventory 18,600 20,850 Beginning raw materials inventory 8,500 13,800 Rental cost on factory equipment 34,750 26,200 Direct labor 21,200 36,200 Ending finished goods inventory 20,150 14,600 Ending work in process inventory 24,700 20,800 Ending raw materials inventory 7,000 8,800 Factory utilities 12,300 13,000 Factory supplies used 8,500 5,100 General and administrative expenses 23,500 48,000 Indirect labor 1,250 8,200 RepairsFactory equipment 5,900 2,800 Raw materials purchases 45,000 53,000 Selling expenses 53,600 49,600 Sales 222,030 302,510 Cash 26,000 21,700 Factory equipment, net 217,500 121,825 Accounts receivable, net 16,600 21,450 Exercise 18-9 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.