The following data is provided for Garcon Company and Pepper Company Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Pactory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,900 16,200 8,500 33,500 20,000 19,100 23,500 6,900 13,650 11,800 22,500 2,450 7,820 46,500 57,200 208, 530 26,000 267,500 16,200 Pepper Company $ 16,900 23,550 11,850 22,900 42,200 16,300 17,200 7,800 13,500 3,700 56,000 8,260 3,600 64,500 46,600 295,010 18,700 118,825 21,700 Exercise 14-9 Preparing financial statements for a manufacturer LO C4, P2 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. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Exercise Required: 1. Prepare income statements for both Garcon Company and Pepper Cor 2. Prepare the current assets section of the balance sheet for each comp Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax