[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. Garcon Company $ 12,000 17,000 10,300 33,750 21,400 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 20,300 27,100 6,700 9,450 27,000 12,400 5,660 35,000 61,200 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper 280,380 20,000 15,400 Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Pepper Company $ 16,150 20,250 12,000 Exercise 14-8 (Algo) Preparing financial statements for a manufacturer LO P1 22,000 41,000 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 17,000 20,200 7,800 15,250 47,500 14,760 2,150 53,500 54,400 398,240 23,700 24,450 Answer is not complete. Complete this question by entering your answers in the tabs below.