{The following information applies to the questions displayed below] The following data is provided for Garcon Company and Pepper Company Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Eactory utilities Factory supplies used General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 13,480 15,800 10,800 32,250 19,600 20,900 27,400 5,900 14,400 13,380 32,eee 1,250 5,3ee 45,500 68,000 249,03e 31.000 237,500 15,200 Pepper Company $ 18,850 22,350 9,150 23,200 41,800 15,200 20,800 9,800 14,000 4,700 52,5ee 9,588 1.750 63,000 48,100 342,510 22,700 151,825 24,450 Required: 1. Prepare income statements for both Garcon Company and Pepper Company 1-b. Prepare the current assets section of the balance sheet for each company Complete this question by entering your answers in the tabs below. Red 1A Garcon Req IA Pepper Red 16 Garcon Reg 1B Pepper Prepare the income statement for Garcon Company, Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 5,300 45,500 60,000 249,030 31,000 237,500 15,200 1,750 63,000 48,100 342,510 22,700 151,825 24,450 Required: 1-a. Prepare Income statements for both Garcon Company and Pepper Company 1-b. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1A Garcon Reg 1A Pepper Req 1B Garcon Reg 1B Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2017 Operating e xpenses Income (loss) before tax Garcon Req 1A Pepper > Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 45,588 60,000 249,030 31,000 237,500 15, 200 63,000 48, 100 342,510 22,789 151,825 24,450 - quired: . Prepare income statements for both Garcon Company and Pepper Company Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1A Garcon Reg1 Pepper Req 18 Garcon Req 18 Pepper Prepare the income statement for Pepper Company PEPPER COMPANY Income Statement For Year Ended December 31, 2017 Operating expenses Income (loss) before tax Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 5,300 45,500 60,000 249,030 31,000 237,500 15,200 1,750 63,000 48,109 342,510 22,790 151,825 24,450 Required: 1-a. Prepare income statements for both Garcon Company and Pepper Company 1-b. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1A Garcon Req 1A Pepper Reg 1B Garcon Req 18 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2017 Inventories Total current assets Req 1A Pepper Req 18 Pepper > Cash Factory equipment, net Accounts receivable, net 249,030 31,000 237,500 15,200 22 252 Required: 1-a. Prepare Income statements for both Garcon Company and Pepper Comp 1-b. Prepare the current assets section of the balance sheet for each compan Complete this question by entering your answers in the tabs below. Reg 1A Garcon Req 1 A Pepper Reg 1B Garcon Req 18 lepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2017 Inventories Total current assets