Required information [The following information applies to the questions displayed below. Alexi Co. issued $2.60 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 part a, assume that the proceeds were $2,246,000. 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.) Balance Sheet Income Statement Revenues Assets Liabilities + Stockholders' Equity Net Income Expenses