Blooming Flower Company was started in Year 1 when it acquired $61,000 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 Required Year 1 $ 22,700 Year 2 $ 11,600 Year 3 $ 20,300 26,900 31,700) 37,000 11,500 17,900 18,500 5,400 8,150 9,800 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) Complete this question by entering your answers in the tabs below. Income Statements Balance Sheets Complete this question by entering your answers in the tabs below. Income Statements Balance Sheets Prepare an income statement (use multistep format) 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 Income Statements For the Year Ended December 31 Year 1 Year 2 Year 3 0 0 0 Operating expenses $ 0 $ 0 $ 0 Income Statements Balance Sheets Prepare a 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 Assets Total assets Liabilities Stockholders' equity Year 1 Year 2 Year 3 $ 0 $ 0 $ 0 Total stockholders' equity 0 0 0 Total liabilities and stockholders' equity $ 0 $ 0 S 0