Required information [The following information applies to the questions displayed below) Doyle Company issued $379,000 of 10-year, 5 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 $45,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. Required a. Prepare the journal entries for these events, and post them to T-accounts for Year 1 and Year 2. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction ist Journal entry worksheet 2 3 4 5 6 7 8 Record the issue of bonds payable. Note: Enter debits before credits General Journal Debit Date Jan 01 Credit Record entry Clear entry View general journal (Select "cl" for all the closing entries.) Cash Land Year 1 Year 1 End. Bal. End. Bal. Year 2 Retained Earnings Year 1 End. Bal. Bonds Payable End. Bal. Year 2 Year 1 End. Bal. End Bal Lease Revenue Interest Expense Year 1 Year 1 End. Bal. Year 2 End. Bal. Year 2 End. Bal. End. Bal. (Select "cl" for all the closing entries.) Cash Land Year 1 Year 1 End. Bal. End. Bal. Year 2 Retained Earnings Year 1 End. Bal. Bonds Payable End. Bal. Year 1 Year 2 End. Bal. End Bal Lease Revenue Interest Expense Year 1 Year 1 End. Bal. Year 2 End. Bal. Year 2 End. Bal. End. Bal b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1 and Year 2. (Amounts to be deducted and net loss amount should be indicated with minus sign.) DOYLE COMPANY Income Statements For the Year Ended December 31 Year 1 Year 2 DOYLE COMPANY Balance Sheets For the Year Ended December 31 Year 1 Year 2 Asses Toats Lab Stockholder's equally Total coders equity Total and More es DOYLE COMPANY Statements of Cash Flows For the Year Ended December 31 Year 1 Year 2 Cash flows from operating activities: Net cash flow from operating act Cash flows from investing activities: Cash flows from financing activities: Net change in cash Ending cash balance