Required [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Garcon Company $ 13,200 Pepper Company $ 19,000 21,750 9,300 18,200 9,900 35,000 24,100 23,400 37,000 Finished goods inventory, ending Work in process inventory, ending 17,000 15,700 22,900 21,200 Raw materials inventory, ending Factory utilities 6,700 9,200 10,800 17,500 General and administrative expenses 33,000 48,500 Indirect labor 14,650 11,200. Repairs-Factory equipment 5,660 3,150 Raw materials purchases 44,500 54,000 Selling expenses 56,800 58,900 Sales 286,080 372,550 Cash 29,000 20,200 Accounts receivable, net 15,200 21,450 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 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. Cost of goods sold: GARCON COMPANY Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold 0 $ 0 Req 1 Garcon Req 1 Pepper > Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale Cost of goods sold Net income 0 $ 0 < Req 1 Garcon Req 2 Garcon > 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 current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ Rea 1 Penner Reg 2 Roppor Complete this question by entering your answers in the tabs be Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Comp PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0 < Req 2 Garcon Req 2