4 Doyle Company issued $440,000 of 10-year, 8 percent bonds on January 1, Year 1. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $57,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. Part 1 of 2 Required a. Organize the transaction data in accounts under the accounting equation for Year 1 and Year 2. (Enter any decreases to accoun balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells will require entry.) 10 points Book Print References DOYLE COMPANY Effect of Events on the Accounting Equation Year 1 and Year 2 Assets = Liabilities Stockholders Equity Bonds Land Retained Payable Earnings Event Account Titles for Retained Earnings Cash Year 1 Required information 4. Effect of Events on the Accounting Equation Year 1 and Year 2 Stockholders Assets = Liabilities + Equity Cash Land Bonds Retained Payable Earnings Part 1 of 2 Event Account Titles for Retained Earnings + 10 points Year 1 1/1 1/1 12/31 eBook 12/31 Bal. 0 + 0+ Print 0 References Year 2 Beg. bal 12/31 12/31 End. bal. + 5 Required information [The following information applies to the questions displayed below.] Doyle Company issued $440,000 of 10-year, 8 percent bonds on January 1, Year 1. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $57,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1 Part 2 of 2 15 points b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1 and Year 2. PI Complete this question by entering your answers in the tabs below. Req B Inc Stmt Reqs Bal Sheet Rog B Stmt Cash Flows Destinatie van Vas 5 b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Part 2 of 2 Sheet 15 points Req B Inc Req B Bal Req B Stmt Stmt Cash Flows Prepare the income statement for Year 1 and Year 2 DOYLE COMPANY Income Statements For the Year Ended December 31 Year 1 Year 2 ference Required information 5 Req B Inc Stmt Reg B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for Year 1 and Year 2. Part 2 of 2 DOYLE COMPANY Balance Sheet As of December 31 15 points Year 1 Year 2 Assets eBook Print References $ 0 $ 0 Total assets Liabilities Required information 5 0 $ 0 Total assets Liabilities Part 2 of 2 15 points 0 Total liabilities Stockholders' equity eBook Print 0 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 $ 0 References