On Janusry $1$ of this year, Skyler Compony issued a bond with o face value of $$80,000$ and a coupon rate of $5$ percent. The bond

motures in $3$ years and poys interest every December $31.$ When the bond wos issued, the annual market rate of interest wos $6$ percent.

Skyler uses the effective$-$interest amortization method. Use the dashbosrd below to oddress the required questions:

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

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