SU I Does not indicate compl 7 of 2 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. Garcon Pepper Company Company Beginning finished goods inventory $ 14,000 $ 17,500 Beginning work in process inventory 18,900 21,750 Beginning raw materials inventory 9,200 12,900 Rental cost on factory equipment 34,500 23,500 Direct labor 19,800 42,600 Ending finished goods Inventory 21,500 16,700 Ending work in process inventory 26,800 21,200 Ending raw materials inventory 5,400 7,800 Factory utilities 9,750 12,250 Factory supplies used 12,400 4,600 General and administrative expenses 25,000 57,500 Indirect labor 2,200 9,520 Repairs-Factory equipment 7,220 3,800 Raw materials purchases 37,500 60,500 Selling expenses 50,000 55.900 Sales 223,530 325,010 Cash 26,000 19,200 Factory equipment, net 237,500 115,825 Accounts receivable, net 14,200 21,450 Exercise 18-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1-a. Prepare income statements for both Garcon Company and Pepper Company 1-b. Prepare the current assets section of the balance sheet for each company. Company 1-b. Prepare the current assets section of the balance sheet for each company. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Garcon Req 1A Pepper Req 18 Garcon Req 1B Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2017 Sales IS 223,530 Less: Cost of goods sold Gross profit 223,530 Operating expenses General and administrative 25,000 expenses Selling expenses 50,000 Income (loss) before tax 148,530 HA 1A Garcon Reg 1A Popper > 1-a. Prepare income statements for both Garcon Company and Pepper Company. 1-b. Prepare the current assets section of the balance sheet for each company. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Garcon Req 1A slapper Req 18 Garcon Req 1B Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2017 Salos $ 325,010 Less: Cost of goods sold Gross profit 325,010 Operating expenses General and administrative 57,500 expenses Selling expenses 55,900 Income (loss) before tax 211,610 1-a. Prepare income statements for both Garcon Company and Pepper Company. 1-b. Prepare the current assets section of the balance sheet for each company. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Garcon Req 1A Pepper Reg 1B 18.Garcon Req 18 Pepper Prepare the current asset section of the balance sheet for Garcon Company. $ GARCON COMPANY Partial Balance Sheet As of December 31, 2017 Cash Accounts receivable, net Inventories Raw materials inventory $ 5,400 Work in process inventory 26,800 Finished goods inventory 21,500 26,000 14,200 53,700 93,900 Total current assets