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 company's first three years' operating activities. Assume that all transactions were cash transactions. Year 1 Purchases of inventory Sales $22,300 Year 2 $11,900 Year 3 $20,300 27,500 31,800 36,400 Cost of goods sold 11,500 Selling and administrative expenses 5,490 16,800 8,090 18,900 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.) Complete this question by entering your answers in the tabs below.