Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon company $ 13,600 16,000 11,500 34,250 24,600 19,480 22,600 6,200 11,700 9,700 32, see 1,650 7,220 43,000 54,800 240,830 21,000 247.500 14,600 $ 17,950 19,95 10,35e 22,75 37,400 14,400 18,400 9,600 15,250 5.500 51.000 9,880 2,900 66,500 53,200 337,510 24, 200 142,825 22,700 Required: 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. 2 of 7 Reg 1 Garcon Reg 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. 240,030 GARCON COMPANY Income Statement For Year Ended December 31, 2019 Sales $ Less: Cost of goods sold Gross profit Operating expenses General and administrative expenses Selling expenses Repairs--Factory equipment $ Income (loss) before tax 240,030 240.030 Req 1 Pepper > Prey 3 Next Req 1 Garcon Req 1 Pepper Req 2 Garcon Reg 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 Pok 0 Operating expenses Income (loss) before tax $ 0