Prepare income statements for both Garcon Company and Pepper Company

Using the following data,

	Garcon Company					Pepper Company
Beginning finished goods inventory		$	12,800			$	17,950
Beginning work in process inventory			18,700				20,850
Beginning raw materials inventory			10,000				12,750
Rental cost on factory equipment			32,000				26,500
Direct labor			23,800				38,600
Ending finished goods inventory			19,700				13,200
Ending work in process inventory			26,800				16,000
Ending raw materials inventory			5,900				7,800
Factory utilities			14,250				12,500
Factory supplies used			8,800				5,400
General and administrative expenses			33,500				51,000
Indirect labor			1,250				9,520
Repairs—Factory equipment			5,540				3,450
Raw materials purchases			36,000				60,000
Selling expenses			58,800				48,700
Sales			225,030				292,510
Cash			33,000				21,700
Factory equipment, net			262,500				172,825
Accounts receivable, net			17,000				20,700

1-a.	Prepare income statements for both Garcon Company and Pepper Company.