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 Pepper Company Company Beginning finished goods inventory $ 12,700 $ 19,158 Beginning work in process inventory 17, see Beginning raw materials inventory 11,488 Rental cost on factory equipment 30,758 Direct labor 24,6ee Ending finished goods inventory 17,750 Ending work in process inventory 27,480 Ending raw materials inventory Factory utilities 11,558 Factory supplies used 9,400 General and administrative expenses 23,000 56,500 Indirect labor 1,388 9,228 Repairs-Factory equipment 6,748 3,700 Raw materials purchases 39,888 65,000 Selling expenses 52,800 58,300 Sales 223,538 328,818 Cash 29,000 22,208 Factory equipment, net 136,825 Accounts receivable, net waarom 7.9ee 16, 32.95 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. Complete this question by entering your answers in the tabs below. Req 1A Garcon Req 1A Pepper Reg 1B Garcon Req 1B Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2017