Blooming Flower Company was started in 2018 when it acquired $61,200 cash from the issue of common stock. The following data summarize the companys first three years operating activities. Assume that all transactions were cash transactions.

	2018			2019			2020
Purchases of inventory	$	23,200		$	10,600		$	20,000
Sales		27,000			31,700			37,800
Cost of goods sold		12,400			16,900			19,300
Selling and administrative expenses		5,330			8,180			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.

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
Merchandise inventory
Cash
	0	0	0
Total assets	$0	$0	$0
Liabilities	$0	$0	$0
Stockholders equity
Common stock
Retained earnings
Total stockholders equity	0	0	0
Total liabilities and stockholders equity	$0	$0	$0