A flood damaged a building and its contents. The receipts from insurance companies totaled $600,000, which was $180,000 less than the book value of the assets. The tax rate is 20%. On the statement of cash flows (indirect method), the receipts from insurance companies should A) be reported as an inflow from investing activities of $600,000. B) be reported in the operating section as an addition to net income of $420,000. C) be reported as an inflow from investing activities of $480,000. D) not be reported