The following data is provided for Garcon Company and Pepper Company for the year ended Decembe Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Garcon Company $ 13,100 14,900 Pepper Company $ 16,000 21,300 10,500 14,400 34,750 25,750 Direct labor 24,200 40,600 Finished goods inventory, endi g 18,950 15,500 Work in process inventory, ending 22,900 18,600 Raw materials inventory, ending 6,500 8,400 Factory utilities 12,450 17,750 General and administrative expenses 33,000 49,500 Indirect labor 14,900 12,860 Repairs-Factory equipment 6,020 3,600 Raw materials purchases 42,000 69,000 Selling expenses 56,400 8,400 Sales 297,840 3,120 Cash 31,000 24,700 Accounts receivable, net 15,400 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