Doyle Company issued $$390,000$ of $10-$year, $8$ percent bonds on January $1,$ Year $2.$ The bonds were issued at face value. Interest is payable in cash on December $31$ of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $$52,500$ of cash revenue, which was collected on December $31$ of each year, beginning December $31,$ Year $2.$

b$.$ Prepare the income statement, balance sheet, and statement of cash flows for Year $2$ and Year $3.$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[\backslash$table$[[$Req B Income$],[$Statement$]],\backslash$table$[[$Req B Balance$],[$Sheet$]],\backslash$table$[[$Req B$],[$Statement of$],[$Cash Flows$]]]]$

Prepare the income statement for Year $2$ and Year $3.$

$\backslash$table$[[$DOYLE COMPANY$],[$Income Statements$],[$For the Year Ended December $31,,],[,$Year $2,$Year $3],[,,],[,,],[,,]]$