Blooming Flower Company was started in 2018 when it acquired $61,600 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 $ 22,200 26,400 11,500 5,390 2019 $ 10,900 31,000 18,100 8,170 2020 $19, 200 36,800 19,700 9,250 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 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 $ Cash Merchandise inventory 60,410 10,700 $ 71, 110 $ 0 $ 0 Total assets Liabilities Stockholders' equity Common stock Retained earnings 61,600 61,600 9,510 0 Total stockholders' equity Total liabilities and stockholders' equity 71,110 71,110 61,600 61,600 $ $ 0 $