Required information [The following information applies to the questions displayed below.] Doyle Company issued $380,000 of 10-year, 7 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 $58,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. 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. Req B Inc Stmt Req B Bal Sheet Req B 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 ! Required information Req B Inc Stmt Req B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for Year 1 and Year 2. DOYLE COMPANY Balance Sheet As of December 31 Assets Year 1 Year 2 Total assets Liabilities $ 0 $ 0 Total liabilities Stockholders' equity 0 0 Total stockholders' equity 0 0 Total liabilities and stockholders' equity $ 0 $ 0 < Req B Inc Stmt Req B Stmt Cash Flows > Required information DOYLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Year 1 Year 2 0 0 Net cash flows from investing activities 0 0 Cash flows from financing activities Net cash flows from financing activities Net change in cash 0 0 0 0 Ending cash balance $ 0 $ 0 < Req B Bal Sheet Req B Stmt Cash Flows >