ups//www.semin... "T Liabilities (10 points) OnsiteOrders Saved Help Save & Ext Check my Required Information [The following information applies to the questions displayed below) Alexi Co. issued $3.30 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 parte assume that the proceeds were $3,437000. Use the horizontal model to show the effect of Issuing the bonds. Indicate the financial statement efect. (Enter your answers in whole dollars, not in millions. Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Assets income Statement Stockholders' Equity Nettoome Liabilities (10 Points) Saved On July 1, 2019. $10 million face amount of 8%, 12-year bonds were issued. The bonds pay interest on an annual basis on June 30 each year. The market interest rates were slightly higher than 8% when the bonds were sold. Required: a. How much interest will be paid annually on these bonds? (Enter your answer in whole dollar, not in millions) b. Were the bonds issued at a premium or discount? c. Will the annual interest expense on these bonds be more than equal to, or less than the amount of interest paid each year? a b. Annual interest payment Bonds issued Annual interest expense will be Discount More than the interest paid 0