Using the following data, Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory 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 General and administrative expenses Indirect labor RepairsFactory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 13,700 18,400 10,000 28,000 21,200 20,600 23,800 6,100 11,850 9,700 31,000 2,000 6,380 46,000 58,800 211,530 32,000 277,500 16,600 Pepper Company $ 16,900 23,400 13,050 26,650 39,400 16,200 20,800 8,400 14,500 3,600 46,000 8,740 2,400 55,500 52,900 347,510 19,200 142,825 21,950 1-a. Prepare income statements for both Garcon Company and Pepper Company. 1-a. Prepare income statements for both Garcon Company and Pepper Company. GARCON COMPANY Income Statement For Year Ended December 31, 2015 Operating expenses Income (loss) before tax PEPPER COMPANY Income Statement For Year Ended December 31, 2015 Operating expenses Income (loss) before tax 1-b.Prepare the current assets section of the balance sheet for each company. GARCON COMPANY Partial Balance Sheet As of December 31, 2015 Inventories Total current assets PEPPER COMPANY Partial Balance Sheet As of December 31, 2015 Inventories Total current assets