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 er Company $ 17,350 22,950 12,150 22,900 35,800 16,200 19,000 7,400 Company 14,200 16,400 9,200 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment 32,750 23,600 18,350 25,600 7,500 Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses 9,300 10,600 24,000 2,100 7,220 35 , 000 58,400 243,030 28,000 15,250 5,300 48,000 8,320 3,250 Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales 60,000 46,600 327,510 19,200 145,825 22,700 Cash Factory equipment, net Accounts receivable, net 247,500 15,000 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. 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 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 > Rea 1A Garcon Req 1A Pepper