[The following information applies to the questions displayed below) 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 Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials Inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12.000 15,800 11,000 28,500 22,200 19,700 22,600 6,500 10,500 29,000 14,150 7,820 41,000 59,200 278,220 28,000 13,609 Pepper Company $ 16,900 22,650 12,50 24,480 37.800 15,300 16,800 7,200 17.750 43,000 23, 440 2,500 63,500 48,700 394,25e 17.700 24,700 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 278,220 Sales Cost of goods sold Goods available for sale 0 Cost of goods sold 0 $ 0 COM Req 1 Pepper > Complete this question by entering your answers in the tabs below. Req 1 Garcon Reg M Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale 0 Cost of goods sold 0 Net income $ 0 Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Reg 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company GARCON COMPANY Balance Sheet Current Assets Section December 31 Total current assets $ 0 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets 0