Blooming Flower Company was started in Year 1 when it acquired $60,400 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 Coat of goods sold Selling and administrative expenses Year 1 523,400 26,200 12.800 5,460 Year 2 $10,300 30.200 17,300 8.010 Year 3 $19,200 36,900 18,800 9,400 Required Prepare an income statement fuse 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.) 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 Year 1 Year 2 Year 3 Assets Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity