Blooming Flower Company was started in Year 1 when it acquired $61,300 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 Cost of goods sold Selling and administrative expenses Year 1 $22,000 26,900 12,500 5,390 Year 2 $10,900 31,000 17,300 8,120 Year 3 $19,000 37,800 18,700 9,150 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 balance sheet for each fiscal year. (Hint: Record the transaction data for each ac 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 Cash Complete this question by entering your answers in the tabs below. Income Statements Balance Sheets Prepare an balance sheet for each fiscal year. (Hint: Record the transaction data for each ac 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 | Cash Merchandise inventory lol $ 0 $ 1 Total assets Liabilities Stockholders' equity Common stock Retained earnings I. . . Total stockholders' equity Total liabilities and stockholder olol 0 0 JOOL $ Income Statements