Question: Check my work mode: This shows what is correct or incorrect for the work you have completed National Food Services, Inc., borrowed $5.2 million from
Check my work mode: This shows what is correct or incorrect for the work you have completed National Food Services, Inc., borrowed $5.2 million from its local bank on January 1, 2018, 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 11%. Installment payments are $1,676,097 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, 2018? (List each cash flow separately. List any cash outflow with a minus sign. Enter your answers in whole dollars.) Answer is complete but not entirely correct. Cash inflow from financing activities Cash outflow from operating activities Cash outflow from financing activities $ 5.200,000 $ 572,000 $ 1,104,007
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