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 (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 $ 12,600 15,200 11,800 30,250 19,600 21,350 25,300 6,500 13,050 11,200 26,000 1,950 7,100 39,000 55,600 238,530 26,000 257,500 16,800 Pepper Company $ 16,900 23,700 14,100 23,950 41,000 15,500 18,000 9,400 12,500 5,600 45,000 8,140 2,450 54,000 59,200 297,510 17,700 136,825 21,700 Exercise 14-9 Preparing financial statements for a manufacturer LO C4, P2 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 Yoar Ended December 31, 2019 0 Operating expenses $ Income (loss) before tax NG Reg 1 Pepper > 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 Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses Income (loss) before tax $ 0 Reg1 Garcon Reg 2 Oareon > 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. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets 0 Reg 1 Pepper Req 2 Pepper > Por each company. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets $