The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) 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 (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 14,900 18,700 10,700 33,000 24,200 18,800 22,000 7,900 12,000 10,300 30,500 1,400 6,020 40,500 58,000 211,530 32,000 227,500 16,200 Pepper Company $ 16,450 23,250 10,200 23,350 35,400 14,700 20,000 9,400 17,250 3,800 55,000 8,140 2,150 59,000 55,900 295,010 24,200 136,825 20,700 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. Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses $ 0 Income (loss) before tax Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses $ 0 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, 2019 Inventories: 0 $ 0 Total current assets Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 $ 0 Total current assets