required ITOFTaLon The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Garcon Pepper Company Company Beginning finished goods inventory $ 13 , 300 $ 18 , 700 Beginning work in process inventory 18 , 800 23, 550 Beginning raw materials inventory (direct materials) 9 , 100 14, 400 Rental cost on factory equipment 31, 250 22, 000 Direct labor 24, 200 37,000 Ending finished goods inventory 20 , 150 15 , 100 Ending work in process inventory 23, 800 21, 600 Ending raw materials inventory 5, 600 9 , 400 Factory utilities 11, 100 16, 500 Factory supplies used (indirect materials) 12, 700 4, 900 General and administrative expenses 31, 000 46, 000 Indirect labor 2, 100 7, 780 Repairs-Factory equipment 6,980 2, 650 Raw materials purchases 43,000 52,000 Selling expenses 55 , 200 49, 600 Sales 225, 030 322, 510 Cash 24,000 16, 700 Factory equipment, net 252, 500 124, 825 Accounts receivable, net 15 , 200 24, 200 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 |Req 2 Garcon |Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Sales $ 225,030 Less: Cost of goods