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Required information (The following information applies to the questions displayed below.) 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 Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,900 17,200 9,900 30,250 21,200 20,750 24,700 6,900 14,100 26,000 14,850 7,580 38,000 51,200 283,050 28,000 15,800 Pepper Company $ 18,700 21,300 13,200 22,750 37,800 13,100 21,000 9,200 13,250 59,500 13,020 2,850 56,000 52,000 387,360 22,200 22,200 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company. Required information Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended+ecember 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 $ 0 Req 1 Garcon Req 1 Pepper > Required information keq i Garcon keq 1 Pepper Req 2 Garcon Reg 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 + Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 Net income $ $ 0 Required information Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the current asset section of the balance sheet for Garcon GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0

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