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The following data is provided for Garcon Company and Pepper Company for the year ended...

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Accounting

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 $ 14,800 $ 17,800
Work in process inventory, beginning 17,60023,700
Raw materials inventory, beginning 9,40014,550
Rental cost on factory equipment 29,50022,900
Direct labor 24,00037,000
Finished goods inventory, ending 20,30016,900
Work in process inventory, ending 27,70018,000
Raw materials inventory, ending 5,4008,600
Factory utilities 13,35016,750
General and administrative expenses 26,50058,500
Indirect labor 12,80015,640
RepairsFactory equipment 5,7802,650
Raw materials purchases 46,00061,500
Selling expenses 62,00054,400
Sales 285,270384,580
Cash 22,00023,200
Accounts receivable, net 13,20022,200
Prepare income statements for both Garcon Company and Pepper Company.
Prepare the current assets section of the balance sheet for each company.

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