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 $ 14, 400 17,200 11,200 34,000 24,400 19,850 25, 300 6,200 14,550 13,600 24,500 1,850 7,220 41,000 60,400 198,030 28,000 262,500 16, 200 Pepper Company $ 18,400 22,050 13,950 24,850 45,000 16,900 21,800 199,000 17,000 5,100 50,500 8,440 2,300 68,000 50,200 305,010 20,200 169,825 20,200 Required information 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 your answers in the tabs below. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company GARCON COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax Required information Complete this question by entering your answers in the tabs below. Req 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 Required information Complete this question by entering your answers in the tabs below. 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 Total current assets Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Reg 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 Total current assets