The following data is provided for Garcon Company and Pepper Company for the year ended December $31.$

Garcon Company Pepper Company

Finished goods inventory, beginning $ $14,800$ $ $17,800$

Work in process inventory, beginning $17,60023,700$

Raw materials inventory, beginning $9,40014,550$

Rental cost on factory equipment $29,50022,900$

Direct labor $24,00037,000$

Finished goods inventory, ending $20,30016,900$

Work in process inventory, ending $27,70018,000$

Raw materials inventory, ending $5,4008,600$

Factory utilities $13,35016,750$

General and administrative expenses $26,50058,500$

Indirect labor $12,80015,640$

Repairs$$Factory equipment $5,7802,650$

Raw materials purchases $46,00061,500$

Selling expenses $62,00054,400$

Sales $285,270384,580$

Cash $22,00023,200$

Accounts receivable, net $13,20022,200$

Prepare income statements for both Garcon Company and Pepper Company.

Prepare the current assets section of the balance sheet for each company.