Prepare the income statement, balance sheet, and statement of cash flows for Year 1 and Year 2

Doyle Company issued $292,000 of 10 -year, 6 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 $76,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. 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. Prepare the income statement for Year 1 and Year 2. (Amounts to be deducted and net loss amount should be indicated with minus sign.) Prepare the balance sheet for Year 1 and Year ? \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ DOYLE COMPANY } \\ \hline \multicolumn{3}{|c|}{ Statements of Cash Flows } \\ \hline \multicolumn{3}{|c|}{ For the Year Ended December 31} \\ \hline & Year 1 & Year 2 \\ \hline \multicolumn{3}{|l|}{ Cash flows from operating activities: } \\ \hline \multicolumn{3}{|l|}{ Receipts from revenue } \\ \hline \multicolumn{3}{|l|}{ Paid for interest } \\ \hline F & & \\ \hline Net cash flow from operating activities & 0 & 0 \\ \hline \multicolumn{3}{|l|}{ Cash flows from investing activities: } \\ \hline \multicolumn{3}{|l|}{ Paid to purchase land } \\ \hline r & & \\ \hline \multicolumn{3}{|l|}{ Cash flows from financing activities: } \\ \hline \multicolumn{3}{|l|}{ Proceeds from bond issue } \\ \hline 5 & & \\ \hline Net change in cash & 0 & \\ \hline Plus: Beginning cash balance & & + \\ \hline Ending cash balance & $ & $ \\ \hline \end{tabular}