Blooming Flower Company was started in Year 1 when it acquired $61,200 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. $ 22,000 Year 2 $ 11,200 Year 3 $ 20,200 Sales 26,100 30,300 36,600 Cost of goods sold 12,900 18,400 Selling and administrative expenses 5,350 8,100 19,500 9,750 ok Required: ces 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.)