Blooming Flower Company was started in Year 1 when it acquired $60,900 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.

	Year 1	Year 2	Year 3
Purchases of inventory	$ 22,100	$ 10,500	$ 19,900
Sales	27,900	30,400	36,700
Cost of goods sold	11,500	18,000	19,600
Selling and administrative expenses	5,360	8,020	9,800

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.)