The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Pepper Company Company Finished goods inventory, $ $ beginning 14,000 17,050 Work in process inventory, 16,200 20,550 beginning Raw materials inventory, beginning 8,000 12,750 Rental cost on factory equipment 32,500 25,750 Direct labor 22,600 36,200 Finished goods inventory, 17,300 16,900 ending Work in process inventory, 26,200 21,400 ending Raw materials inventory, ending 6,500 7,800 Factory utilities 14,400 14,250 General and administrative 31,500 52,500 expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses 11,550 13,360 4,940 34,000 54,000 3,100 59,600 53,500 Sales 299,790 377,970 Cash 26,000 23,700 Accounts receivable, net 14,400 24,450 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 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 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 $ < Req 1 Garcon Req 1 Pepper > 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion costs for both Garcon Company and Pepper Company. Complete this question by entering your answers in the tabs below. Required Required 1 2 Compute the total prime costs for both Garcon Company and Pepper Company. Garcon Pepper Company Company Total prime costs < Required 1 Required 2 >