. Required information [The following information applies to the questions displayed below] Alex Co issued $3.50 million face amount of 7% 10-year bonds on June 1, 2019. The bonds pay interest on an annual basis on May 31 each year b-1. Independent of your answer to parto assume that the proceeds were 53 443,000 Use the horizontal model to show the effect of issuing the bonds Indicate the financial statement effect. (Enter your answers in whole dollars, not in millions. Enter decreases with a minus sign to indicate a negative financial statement effect.) Answer is complete but not entir Balance Sheet Assets Stockholders' Equity Net Income Cash 3.143.000 Bonds payable Discount on bonds payable 3.500.000 220,010 ol DI O