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 $ 12,700 16,900 11,700 31,000 24,800 19,550 26,500 7,000 13,500 11,200 33,000 1,95 6,980 47,000 56,000 231,038 32,000 222,500 16,400 Pepper Company $ 17,950 22,350 13, 350 24,700 41,000 15,300 21,200 9,800 16,500 5,100 57,800 8,200 3,850 59,500 56,200 330, 010 17,700 154,825 22,450 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