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Required information [The following information applies to the questions displayed below.] Doyle Company issued $211,000 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 minus sign.) (1) Required information \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Balance Sheets } & Year 1 \\ \hline & Year 2 \\ \hline Assets & & \\ \hline & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline Stockholder's equity & & \\ \hline & & \\ \hline & & \\ \hline Total stockholder's equity & & \\ \hline Total liabilities and stockholders' equity & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ For the Year Ended December 31 } \\ \hline Cash flows from operating activities: & & \\ \hline & Year 1 & Year 2 \\ \hline & & \\ \hline & & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities: & & \\ \hline & & \\ \hline & & \\ \hline Cash flows from financing activities: & & \\ \hline & & \\ \hline & & \\ \hline Net change in cash & & \\ \hline & & \\ \hline Ending cash balance & & \\ \hline \end{tabular}

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