Blooming Flower Company was started in Year 1 when it acquired $60,700 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 Year 1 $23,400 Sales 27,500 Year 2 $10,700 31,000 Year 3 $20,000 36,400. Cost of goods sold 12,900 Selling and administrative expenses 5,310 17,900 8,090 18,500 9,950 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