1-4 Problems Seved Help Save & Exit Submit Check my work Blooming Flower Company was started in Year 1 when it acquired $61,100 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 Dok: Selling and administrative expenses Required arces Year $23,400 Year 2 $ 11,300 26,700 31,000 19,000 36,700 11,900 5,430 18.500 110 10,300 92450 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 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