Amber's Flower Company was started in 2014 where it acquired $80,000 cash from the issue of common stock. The following data summarize the company's first three years' operating activities. Assume that all transactions were cash transactions. Purchases of inventory Sales Cost of goods sold Selling and administrative expenses 2014 $40,000 75,000 38,000 29,000 2015 $55,000 88,000 49,000 35,000 2016 $ 95,000 146,000 82,000 42,000 Required Prepare an income statement (use multistep format) and balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) AMBER'S FLOWER COMPANY Income Statements For the Year Ended December 31 2014 2015 2016 Operating expenses