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 $23, 200 27,200 11,700 5,400 2019 $11,300 31, 200 17,000 8, 150 2020 $19,000 37,900 19,000 9,550 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.) BLOOMING FLOWER COMPANY Balance Sheets As of Year Ended December 31 2018 Assets Cash $ 52,200 Merchandise inventory 2019 2020 $ 52,200 $ 0 $ 0 Total assets Liabilities Stockholders' equity | Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 00 0 $ 0 $ $ 0