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 Pepper Company $ 16, 15e 23,400 12,600 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materiais) 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 indirect materials) 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 18,900 11,300 34,500 22,200 21,200 27,700 7.30 12,150 9.100 26,000 1,300 5,150 45,500 52,400 217,50 22,000 227,500 16,200 35,800 16,300 16,600 9,000 17,750 3,500 45,500 8,200 3,700 55,500 58,300 295,010 17,200 143,025 20,450 Exercise 14.9 Preparing financial statements for a manufacturer LO C4, P2 Required: 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. Reg 1 Garcon Reg 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company, GARCON COMPANY Income Statement For Year Endod December 31, 2019 Sales Loss Cost of goods sold Gross prole Operating expenses General and administrative expenses Selling expenses 217.530 117.730 95 500 24000 52.400 Income doss) before tax $ $23.400 Re Pepper > [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 (direct materials) 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 (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,800 18,900 11,3ee 34,500 22,200 21,200 27,700 7.300 22,150 9,100 24,000 1,300 5,150 46,500 52,400 217,530 22,00 227,500 16,200 Pepper Company $ 16,150 23,400 12,600 24,400 35,800 16,300 16,600 9,800 17,750 3,500 45,500 8,200 3,700 55, see 58,30 295,010 17,200 148,825 28,450 Exercise 14-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 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. Real Garcon Reg1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Pepper Company PEPPER COMPANY Incon Statement For Year Ended December 31, 2019 Operating sponses Income our tax R2 Garm [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 (direct materials) 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 (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company Pepper Company 5 12,800 $ 16,159 18,900 23,400 11,300 12,600 34,500 24,400 22,200 35,800 21,280 16,300 27,700 16,600 7,360 9,000 12,15e 17,750 9, 100 3,500 24,000 45,500 1,300 8,200 5,188 3,700 46,500 55,500 52,400 58,300 217,530 295,018 22.000 17,280 227,500 148,825 16,200 20,450 Exercise 14-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 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. Red 1 Garcon Fea 1 Penper Reg 2 Garcon Reg 2 Pepper Prepare the current action or the balance sheet for Garcon Company GARSON COMPANY antial A Dec 31, 2013 Inventories