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. 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 Garcon Company $ 12, 200 16,000 8, 200 30,500 20, 800 18,650 25,600 6,800 10,050 10,900 35,000 1,950 5,180 40,000 57,600 208,530 28,000 277,500 14,200 Pepper Company $ 19,300 23,700 11,250 22,600 43, 400 13,400 21,600 7,600 13,250 3,500 52,500 9, 280 2, 350 58,000 52,900 327,510 22,700 178,825 20,700 Exercise 01-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company, 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering yilur answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses $ 0 Income (loss) before tax Req 1 Garcon Rell 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses Income (oss) before tax Req 1 Garcon Req 1 Pepper Red Garcon Req 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: Total current assets 0 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 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 Total current assets $