Exercise $21-12($Algo$)$ Installment note; financial statement effects $[$L$021-3,21-6]$

National Food Services, Incorporated, borrowed $$5\mathrm{.}0$ million from its local bank on January $1,2024,$ and

issued a four$-$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 $$1,577,354$ 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 $31,2024?$

Note: List each cash flow separately. Cash outflows should be indicated with a minus sign. Enter your

answers in whole dollars and not in millions.

Answer is complete but not entirely correct.