The following site has a complete guide to *all* the levels in Bubble Bobble. Many thanks to the site host for advertising it on a retro forum I visit ;-)
On level 1, shoot the first two monsters with bubbles, then fill the screen with bubbles. Then, bubble and burst the third and final monster. All bubbles still on the screen will turn into fruit.
Continue game play:
After the last life is lost, hold Fire to regain a new set of lives with a score of zero.
Press [F2] during game play to advance to the next level, [F3] to advance six levels, or [F4] to advance eleven levels.
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