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 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 General and administrative expense Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, Garcon Company 12,000 18,100 10,400 27,500 24,800 19,550 26,800 7,600 11,550 9,100 Pepper Company $ 19,600 22,650 9,300 26, 350 35,400 13,800 19,400 8,000 13,500 5,700 43,000 9,580 1,550 66,000 46,300 340,010 17,700 157,825 22,950 2,250 4,820 37,500 57,200 226,530 28,000 237,500 16,600 Exercise 14.9 Preparing financial statements for a manufacturer LO C4, P2 Exercise 14-9 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 Req 1B Garcon Req 1B Pepper Prepare the income statement for Garcon Company GARCON COMPANY Income Statement For Year Ended December 31, 2017 Operating expenses Income (loss) before tax Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2017 Operating expenses Income (loss) before tax Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2017 Inventories: Total current assets Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 18.Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2017 Inventories: Total current assets $ 0 s. Reg 1B Garcon