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 $ 13,100 18,700 9,700 Pepper Company $ 19,600 20,100 12,900 28,000 25,150 23,400 Finished goods inventory, ending 36,600 21,350- Work in process inventory, ending 16,500 24,100 19,600 Raw materials Inventory, ending 7,500 8,500 Factory utilities. General and administrative expenses 9,600 14,750 29,500 55,000 Indirect labor 10,400 13,620 Repairs Factory equipment) 5,780 2,950 Raw materials purchases: 45,000 52,500 Selling expenses: 62,000 47,800 Sales 272,520 396,020 Cash 31,000 19,700. Accounts receivable, net 15,200 21,200 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company.