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 Garcon Company $ 14,400 Pepper Company $ 16,150 18,700 22,500 10,200 13,350 33,000 23,050 Direct labor 20,800 38,200 Finished goods inventory, ending 17,300. 16,700 Work in process inventory, ending 24,100 18,800 Raw materials inventory, ending 7,400 7,800 Factory utilities 10,500 14,000 General and administrative expenses 28,000 46,500 Indirect labor 12,950 13,560 Repairs-Factory equipment 5,300 2,600 Raw materials purchases 39,500 52,500 Selling expenses 50,800 52,600 Sales 292,200 382,030 Cash 28,000 16,200 Accounts receivable, net 17,000 21,950 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.