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 Garcon Company $ 13,700 16,700 Pepper Company $ 19,750 20,400 8,600 12,600 31,750 22,600 22,800 44,200 21,200 15,700 Work in process inventory, ending 27,700 17,200 Raw materials inventory, ending 5,500 8,800 Factory utilities 14,100 12,500 General and administrative expenses 26,000 46,000 Indirect labor 12,100 12,140 Repairs-Factory equipment 6,500 2,450 Raw materials purchases 46,000 70,000 Selling expenses 59,200 55,300 Sales 283,650 377,000 Cash 21,000 18,700 Accounts receivable, net 15,800 20,950 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.