Using the following data, Garcon Company Pepper Company Beginning finished goods inventory $ 12,700 $ 17,650 Beginning work in process inventory 16,800 21,300 Beginning raw materials inventory 10,900 9,000 Rental cost on factory equipment 30,000 25,750 Direct labor 22,600 39,000 Ending finished goods inventory 17,900 15,600 Ending work in process inventory 24,100 21,000 Ending raw materials inventory 6,000 8,800 Factory utilities 13,950 12,250 Factory supplies used 11,800 5,700 General and administrative expenses 34,000 48,000 Indirect labor 1,400 8,020 Repairs-Factory equipment 5,780 3,650 Raw materials purchases 35,000 56,000 Selling expenses 63,200 49,000 Sales 202,530 340,010 Cash 32,000 16,200 Factory equipment, net 227,500 178,825 Accounts receivable, net 15,600 20,950 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.