tion.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mhed work - GRADED i Saved The following data is provided for Garcon Company and Pepper Company for the year ended December 31 Garcon Pepper Company Company Finished goods inventory, beginning $ 14, 300 $ 19,900 Work in process inventory, beginning 14, 900 23 , 550 Raw materials inventory, beginning 8, 600 15 , 000 Rental cost on factory equipment 29 , 750 26, 650 Direct labor 24 , 806 41, 800 Finished goods inventory, ending 19, 100 16, 200 Work in process inventory, ending 24, 700 18, 200 Raw materials inventory, ending 6, 700 7, 600 Factory utilities 9, 600 17, 750 General and administrative expenses 30, 000 46, 000 Indirect labor 14, 150 14, 340 Repairs-Factory equipment 5,420 3 , 850 Raw materials purchases 44, 500 67 , 500 Selling expenses 58 , 800 52 , 600 Sales 299, 940 380, 070 Cash 35 , 000 24, 200 Accounts receivable, net 16, 400 23 , 700 Exercise 18-8 (Algo) Preparing financial statements for a manufacturer LO P1 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. Req 1 Garcon Req 1 Pepper |Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. "Rain off and on