Problem 4-25A (Algo) Basic transactions for three accounting cycles: Perpetual system LO 4-1, 4-6 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 Sales Cost of goods sold Selling and administrative expenses Required Year 11 $ 23,600 Year 2 $ 10,300 26,800 30,800 Year 3 $ 20,200 37,700 12,600 17,000 5,410 8,150 18,300 9,350 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)