Show your stepes please. I don't know how to calculate cost of goods sold.

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. Begimning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rent al 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 expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 14, 100 16,000 11, 700 32, 250 21,000 20, 600 22, 300 6,600 12, 750 9,700 35,000 2,150 6,620 34,500 62,000 198,030 25,000 272, 500 16, 600 Pepper Company $ 18, 700 21, 300 12, 150 25, 600 40,200 14,900 21,400 8,600 16,000 5,500 57, 500 9,400 2, 350 52, 500 49,000 330, 010 24, 700 130, 825 24, 700 xercise 18-9 Preparing financial statements for a manufacturer LO C4, P2 equired: a. Prepare income statements for both Garcon Company and Pepper Company. 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 Sales $ Less: Cost of goods sold Gross profit Operating expenses 198,030 198,030 Income (loss) before tax $ 198,030 Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2017 0 Operating expenses ncome (loss) before tax $ 0 Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2017 Inventories: 0 0 Total current assets $ Req 1B Garcon Req 1B Pepper >