Using the following data,

	Garcon Company					Pepper Company
Beginning finished goods inventory		$	12,300			$	17,800
Beginning work in process inventory			17,600				22,800
Beginning raw materials inventory			10,200				10,650
Rental cost on factory equipment			31,000				25,000
Direct labor			19,800				38,200
Ending finished goods inventory			21,500				16,500
Ending work in process inventory			23,800				21,200
Ending raw materials inventory			7,900				9,600
Factory utilities			9,600				12,250
Factory supplies used			11,200				5,000
General and administrative expenses			21,500				57,500
Indirect labor			2,000				7,600
RepairsFactory equipment			6,620				1,850
Raw materials purchases			37,000				55,500
Selling expenses			62,800				59,200
Sales			213,030				330,010
Cash			22,000				16,200
Factory equipment, net			222,500				145,825
Accounts receivable, net			15,200				20,950

1-a.	Prepare income statements for both Garcon Company and Pepper Company.

1-b.	Prepare the current assets section of the balance sheet for each company.

Using the following data, Garcon Pepper Company Company 17,800 Beginning finished goods inventory 12,300 Beginning work in process inventory 17,600 22,800 Beginning raw materials inventory 10,200 10,650 Rental cost on factory equipment 31,000 25,000 Direct labor 19,800 38,200 21,500 Ending finished goods inventory 16,500 21,200 Ending work in process inventory 23,800 Ending raw materials inventory 7,900 9,600 Factory utilities 9,600 12,250 11,200 Factory supplies used 5,000 57,500 General and administrative expenses 21,500 Indirect labor 2,000 7,600 Repairs-Factory equipment 6,620 1,850 Raw materials purchases 37,000 55,500 Selling expenses 62,800 59,200 330,010 Sales 213,030 Cash 22,000 16,200 Factory equipment, net 222,500 145,825 Accounts receivable, net 15,200 20,950 1-a. Prepare income statements for both Garcon Company and Pepper Company. GARCON COMPANY Income Statement For Year Ended December 31, 2015 Sales Less: Cost of goods sold Gross profit Operating expenses General and administrative expenses Selling expenses Income (loss) before tax