Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company. 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 $ 13,400 18,700 9,100 29,500 23,400 21,200 23,500 5,400 11,850 11,200 22,000 2,350 7,580 39,000 54,400 219,030 31,000 212,500 14,600 Pepper Company $ 19,900 21,150 14,550 26,500 39,000 13,300 18,200 7,600 17,250 4,300 48,500 8,020 2,000 54,500 54,700 320,010 23,700 136,825 23,950 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper 2 Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Sales $ 219,030 30,100 188,930 Add: Cost of goods sold Gross profit Operating expenses Selling expenses General and administrative expenses 54,400 22,000 Income (loss) before tax $ 112,530 Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses Income (loss) before tax $ 0 Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets $ 0 Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets $ 0