Blooming Flower Company was started in 2018 when it acquired $61,500 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 2018 $22,880 27,700 12, see 5,460 2019 $11,280 31,900 17,900 8,119 2020 $19, 280 37,200 18,888 10,000 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.) Complete this question by entering your answers in the tabs below. Income Statements Balance Sheets Prepare an income statement for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) BLOOMING FLOWER COMPANY Income Statements For the Year Ended December 31 2018 2019 2020 0 0 0 Operating expenses S 0 S 0 S 0 Complete this question by entering your answers in the tabs below. Income Statements Balance Sheets Prepare an 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.) BLOOMING FLOWER COMPANY Balance Sheets As of Year Ended December 31 2018 2019 2020 Assets S 0 S 0 S 0 Total assets Liabilities Stockholders' equity 0 0 0 Total stockholders' equity Total liabilities and stockholders' equity S S 0 S 0