Hacker’s Superstore Inc. (HSI) borrowed $4,000,000 on January 1, 2020, at a fixed rate of 4%. The loan was repayable over five years at $898,508 per annum. The loan agreement included various covenants and stipulated that in the event of default the loan became immediately payable on demand. HSI had a December 31 year-end and reported its financial results in accordance with IFRS. The December 31, 2020, financial statements were approved for issue on March 5, 2021. Four independent situations follow:

1. The first payment on the loan, due on December 31, 2020, was paid as agreed.

2. The first payment on the loan was due on December 31, 2020. The payment was not made by HSI until January 12, 2021, due to the late receipt of a large receivable. While the lender did not take any precipitous action, it did not agree to amend the due date.

3. The first payment on the loan was due on January 1, 2021.

4. The first payment on the loan was due on January 1, 2021. HSI was in breach of the current ratio covenant at the December 31, 2020, year-end. In January 2021, the lender agreed to waive the default until January 2022.

Required:

For each of the four scenarios above, indicate the amount that HSI should have reported as a current liability on its balance sheet as at December 31, 2020.