Use the following information for the Exercises below. [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 Factory 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 $ 12,000 17,400 8,200 31,500 22,600 18,500 23,800 7,700 9,300 11,500 32,000 1,700 7,940 44,500 54,000 199,530 34,000 237,500 16,000 Pepper Company $ 19,750 19,650 12,750 22,000 35,000 14,400 20,000 9,800 16,250 4,600 52,000 9,040 2,500 56,500 57,400 340,010 17,200 172,825 19,700 Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2017 Sales $ Less: Cost of goods sold Gross profit Operating expenses Selling expenses General and administrative expenses 199,530 116,640 82,890 Income (loss) before tax $ $ 82,890 Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2017 0 Operating expenses Income (loss) before tax $ 0 Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2017 Inventories: 0 Total current assets 0 Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2017 Inventories: 0 Total current assets | $ 0