Prepare the income statement for Garcon Company. The following data is provided for Garcon Company and Pepper

Prepare the income statement for Garcon Company.  

 

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The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 14,300 18,800 9,800 27,250 24,000 18,800 26,500 6,000 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 12,150 29,500 15,000 4,820 42,000 50,400 286,170 32,000 15,200 Pepper Company $ 16,600 24,000 12,450 26,650 39,400 14,000 20,000 7,400 17,250 47,500 13,840 2,850 58,500 49,000 391,830 20,700 19,450 The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 14,300 18,800 9,800 27,250 24,000 18,800 26,500 6,000 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 12,150 29,500 15,000 4,820 42,000 50,400 286,170 32,000 15,200 Pepper Company $ 16,600 24,000 12,450 26,650 39,400 14,000 20,000 7,400 17,250 47,500 13,840 2,850 58,500 49,000 391,830 20,700 19,450

Answer rating: 100% (QA)

To prepare the income statement for Garcon Company we would primarily follow the typical income statement structure starting with Sales and subtractin... View the full answer