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Doyle Company issued $340,000 of 10 year, 9 percent bonds on January 1, Year 2 . The bonds were issued at face value Interest is

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Doyle Company issued $340,000 of 10 year, 9 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 annuat $57,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2 Exercise 10-6A (Algo) Part 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. Prepare the income statement for Year 2 and Year 3. Prepare the balance sheet for Year 2 and Year 3. DOYLE COMPANY Statement of Cash Flows For the Year Ended December 31 Net cash flows from investing activities Cash flows from financing activities Net cash flows from financing activities Net change in cash Ending cash balance

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