Use the following information for the Exercises below. (Algo) [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 Garcon Company $ 12,100 Pepper Company $ 19,150 15,400 21,000 11,600 10,950. 34,000 26,350 24,600 35,400 Finished goods inventory, ending 18,200 16,100 Work in process inventory, ending 23,200 20,800 Raw materials inventory, ending 6,900 9,800 Factory utilities 13,200 15,250 General and administrative expenses 25,000 50,000 Indirect labor 9,900 12,200 Repairs-Factory equipment 6,140 3,300 Raw materials purchases: 34,000 53,000 Selling expenses 58,000 55,600 Sales 284,880 381,760 Cash 22,000 17,200 Accounts receivable, net 16,200 23,950 Exercise 14-8 (Algo) Preparing financial statements for a manufacturer LO P1 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.