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National Food Services, Inc., borrowed $7.8 million from its local bank on January 1, 2021, and...

National Food Services, Inc., borrowed $7.8 million from its local bank on January 1, 2021, and issued a 4-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 10%. Installment payments are $2,460,672 annually. Required: What would be the amount(s) related to the note that National would report in its statement of cash flows for the year ended December 31, 2021? (List each cash flow separately. List any cash outflow with a minus sign. Enter your answers in whole dollars.)

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The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

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