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  3. doyle company issued $390,000 of 10- year, 8 perce

Doyle Company issued $390,000 of 10- year, 8 percent bonds on January 1, Year 2....

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Accounting

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.
Req B Income Req B Balance
Req B
Statement
Sheet
Statement of
Cash Flows
Prepare the balance sheet for Year 2 and Year 3.
\table[[DOYLE COMPANY],[Balance Sheet],[,As of December 31,],[,Year 2,Year 3],[Assets,,],[,,],[,,],[,,],[Total assets,,],[Liabilities,,],[,,],[,,],[Total liabilities,,],[Stockholders' equity,,]]
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