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An analysis of the annual financial statement of McD owell Corporation reveals the following: a. The company had a $5 million loss from a fire

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An analysis of the annual financial statement of McD owell Corporation reveals the following: a. The company had a $5 million loss from a fire that destroyed an uninsured factory building. b. Depreciation for the year amounted to $9 million. c. During the year, $2 million in cash was transferred from the company's checking account into a money market fund. In the computation of net cash flows from operating activities by the indirect method, explain whether each of these items should be added to net income, deducted from net income, or omitted from the computation. Briefly explain your reason for each

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