The following data is provided for Garcon Company and Pepper Company. Garcon. Company Beginning finished goods inventory $ 12,700 Beginning work in process inventory 16,700 Beginning raw materials inventory (direct materials) 9,000 28,250 Rental cost on factory equipment Direct labor 21,000 Ending finished goods inventory 19,700 22,600 Ending work in process inventory Ending raw materials inventory Factory utilities 7,200 13,800 12,100 Factory supplies used (indirect materials) General and administrative expenses 29,000 Indirect labor 1,950 7,220 Repairs-Factory equipment Raw materials purchases Selling expenses 36,000 51,200 Sales 240,030 Cash 25,000 242,500 Factory equipment, net Accounts receivable, net 16,000 Required: 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. Pepper Company $ 18,250 19,950 13,950 22,900 36,200 13,200 22,000 8,200 17,000 4,800 45,000 9,580 2,000 62,500 53,500 337,510 21,700 142,825 23,450