Blooming Flower Company was started in 2018 when it acquired $60,700 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. 2018 2019 2020 $19,500 36,300 18,200 9,900 Purchases of inventory $23,300 26, 100 12,700 5,350 $10,700 30,400 17,400 8,030 Sales Cost of goods sold Selling and administrative expenses 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.) equation before preparing the statements for that year.) BLOOMING FLOWER COMPANY Balance Sheets As of Year Ended December 31 2019 2020 2018 Assets 10,600 Merchandise inventory Cash 10,600 $ Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity %24 %24