Blooming Flower Company was started in 2018 when it acquired $60,800 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 $22,600 27,100 12,600 5,400 2019 $11,700 31,200 17,300 8,030 2020 $19,800 36,400 18,600 9,500 BLOOMING FLOWER COMPANY Balance Sheets As of Year Ended December 31 2018 2019 2020 Assets $ Cash Merchandise inventory 73,400 22,600 11,700 19,800 Total assets $ 96,000 $ 11,700 19,800 Liabilities Stockholders' equity 0 0 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 $ 0 $ 0