Work in process inventory, ending Raw materials inventory, ending Factory utilities 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 Finished goods inventory, ending Garcon Company $ 13,100 Pepper Company $ 16,600 17,300 20,250 9,600 13,800 31,250 24,100 20,000 39,800 17,600 16,000 23,500 17,400 6,300 9,200 9,450 15,000 General and administrative expenses 24,000 49,000 Indirect labor 13,550 12,300 Repairs-Factory equipment 7,700 3,250 Raw materials purchases 36,500 65,500 Selling expenses 64,400 49,900 Sales 282,060 376,400 Cash 34,000 24,200 Accounts receivable, net 16,600 23,700 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.