Required information (The following information applies to the questions displayed below.] On January 1 of this year, Olive Corporation issued bonds. Interest is payable once a year on December 31. The bonds mature at the end of four years. Olive uses the effective-interest amortization method. The partially completed amortization schedule below pertains to the bonds: Cash Interest Amortization $ 241 Date January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 $ 4,340 ? ? ? $ 4,099 ? ? 4,049 Balance $ 63,062 62,821 62,564 ? 62,000 273 ? Required: 1. Complete the amortization schedule. (Enter all your values in positive. Round your final answers to nearest whole dollar amount.) Cash Interest Amortization Date January 1, Year 1 End of Year 1 Balance $ 63,062 $ 4,099 $ 241 $ 62,821 62,564 $ $ End of Year 2 End of Year 3 End of Year 4 4,340 $ 4,340 4,340 4,340 $ $ $ 273 $ 4,049 $ 62,000 4. Were the bonds issued at a premium or a discount? If so, what was the amount of the premium or discount? 5. How much cash will be disbursed for interest each period and in total over the life of the bonds? Cash disbursed per period Cash disbursed in total 8. What amount of interest expense will be reported on the income statement for Year 2 and Year 3? (Round your final answers to nearest whole dollar amount.) Interest Expense Year 2 Year 3 9. What amount will be reported on the balance sheet at the end of Year 2 and Year 3? Bonds Payable Year 2 Year 3