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. Year 1 Purchases of inventory Sales $22,300 Year 2 $10,300 Year 3 $19,000 26,100 31,800 36,100 Cost of goods sold. 12,600 Selling and administrative expenses 5,380 18,100 8,090 19,100 9,300 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.) 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.) 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 Operating expenses Year 1 Year 2 Year 3 Complete this question by entering your answers in the tabs below. Income Statements Balance Sheets Prepare a balance sheet for each fiscal year. (Hint: Record the transaction data 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 Total stockholders' equity Total liabilities and stockholders' equity Year 1 Year 2 Year 3