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 . Prepare the income statement for Garcon Company. art 2 of 2 Prepare the income statement for Pepper Company. \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ PEPPER COMPANY } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline Sor Year Ended December 31 & $385,280 \\ \hline Cost of goods sold: & & \\ \hline Finished goods inventory, beginning & $16,000 & \\ \hline Cost of goods manufactured & & \\ \hline & 16,000 & \\ \hline Goods available for sale & 14,200 & \\ \hline Less: Finished goods inventory, ending & & \\ \hline Cost of goods sold & & 3,800 \\ \hline Gross profit & & 55,480 \\ \hline Selling expenses & & 53,500 \\ \hline General and administrative expenses & \\ \hline & & \\ \hline & & 274,680 \\ \hline Net income & & \\ \hline \end{tabular} Prebare the current asset section of the balance sheet for Pepper C Prepare the current asset section of the balance sheet for Garcon Company