The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,200 Pepper Company $ 16,150 18,500 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor 22,050 11,400 10,200 27,250 24,850 24,000 36,200 19,700 15,300 26,800 19,200 Finished goods inventory, ending Work process inventory, ending Raw materials inventory, ending Factory utilities 7,800 8,200 12,900 15,500 32,500 51,000 General and administrative expenses Indirect labor 13,750 11,800 Repairs-Factory equipment 4,700 2,850 44,000 Raw materials purchases Selling expenses 58,000 53,600 46,600 Sales 279,660 374,200 Cash 31,000 21,700 Accounts receivable, net 14,600 19,450 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. 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 December 31 Cost of goods sold: Goods available for sale Cost of goods sold < Req 1 Garcon 0 0 $ Req 1 Pepper >