Question: please help with this,and also please show the working The following data is provided for Garcon Company and Pepper Company for the year ended December
please help with this,and also please show the working
The following data is provided for Garcon Company and Pepper Company for the year ended December 31.
| Garcon Company | Pepper Company | |
|---|---|---|
| Finished goods inventory, beginning | $ 13,400 | $ 17,350 |
| Work in process inventory, beginning | 16,000 | 22,800 |
| Raw materials inventory, beginning | 8,200 | 10,500 |
| Rental cost on factory equipment | 31,500 | 25,000 |
| Direct labor | 22,600 | 41,000 |
| Finished goods inventory, ending | 18,800 | 14,500 |
| Work in process inventory, ending | 26,800 | 18,800 |
| Raw materials inventory, ending | 5,400 | 9,000 |
| Factory utilities | 13,200 | 17,750 |
| General and administrative expenses | 22,500 | 53,000 |
| Indirect labor | 11,050 | 12,120 |
| RepairsFactory equipment | 5,780 | 1,600 |
| Raw materials purchases | 37,500 | 62,000 |
| Selling expenses | 57,600 | 51,100 |
| Sales | 272,340 | 379,910 |
| Cash | 32,000 | 17,200 |
| Accounts receivable, net | 14,800 | 23,450 |
1. Prepare income statements for both Garcon Company and Pepper Company.

2. Prepare the current assets section of the balance sheet for each company.


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 0 Cost of goods sold 0 $ 0 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 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 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 current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0
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