The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 14,300 Pepper Company Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor $ 17,950 16,000 23,100 12,000 11,100 34,000 22,000 21,400 41,800 Finished goods inventory, ending 21,350 16,500 Work in process inventory, ending 24,400 20,600 Raw materials inventory, ending. 7,500 9,800 Factory utilities 13,350 17,750 General and administrative expenses 33,500 46,000 Indirect labor 11,200 11,500 Repairs-Factory equipment 5,540 2,850 Raw materials purchases 36,500 54,500 Selling expenses 63,200 58,900 Sales 283,740 389,200 Cash Accounts receivable, net 31,000 14,200 23,200 21,700 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 Sales Cost of goods sold: Goods available for sale Cost of goods sold < Req 1 Garcon 0 $ 0 Req 1 Pepper > 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 $ 14,300 Pepper Company $ 17,950 16,000 23,100 12,000 11,100 34,000 22,000 21,400 41,800 Finished goods inventory, ending 21,350 16,500 Work in process inventory, ending 24,400 20,600 Raw materials inventory, ending Factory utilities 7,500 9,800 13,350 17,750 General and administrative expenses 33,500 46,000 Indirect labor 11,200 11,500 Repairs-Factory equipment 5,540 2,850 Raw materials purchases 36,500 54,500 Selling expenses 63,200 58,900 Sales Cash Accounts receivable, net 283,740 31,000 14,200 389,200 23,200 21,700 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 Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale Cost of goods sold 0 Net income $ 0 < Reg 1 Garcon Reg 2 Garcon > 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 $ 14,300 16,000 Pepper Company $ 17,950 23,100 12,000 11,100 34,000 22,000 21,400 41,800 Finished goods inventory, ending 21,350 16,500 Work in process inventory, ending 24,400 20,600 Raw materials inventory, ending Factory utilities 7,500 9,800 13,350 17,750 General and administrative expenses 33,500 46,000 Indirect labor 11,200 11,500 Repairs-Factory equipment 5,540 2,850 Raw materials purchases 36,500 54,500 Selling expenses 63,200 58,900 Sales 283,740 389,200 Cash Accounts receivable, net 31,000 23,200 14,200 21,700 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 current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0 < Req 1 Pepper Req 2 Pepper > 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 Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 14,300 16,000 Pepper Company $ 17,950 23,100 12,000 11,100 34,000 22,000 21,400 41,800 21,350 16,500 24,400 20,600 7,500 9,800 13,350 17,750 33,500 46,000 11,200 11,500 5,540 2,850 36,500 54,500 63,200 58,900 283,740 389,200 31,000 23,200 14,200 21,700 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 current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ < Req 2 Garcon Req 2 Pepper >