25. On January 1 of this year, Skyler Company issued a bond with a face value of $80,000 and a coupon rate of 5 percent. The bond matures in 3 years and pays interest every December 31. When the bond was issued, the annual market rate of interest was 6 percent. Skyler uses the effective-interest amortization method. Use the dashboard below to address the required questions:

1. Complete a bond amortization schedule for all three years of the bond's life.

Date	Book Value of Bond
January 01, Year 1

2. What amounts will be reported on the income statement and balance sheet (book value) at the end of Year 1 and Year 2?

December 31	Year 1	Year 2
Interest Expense	$4,415	$4,536
Bonds Payable