14.. During 2010, Shirley Nutt, the sole shareholder of a calendar year S corporation, received a distribution of $16,000. On December 31, 2009, her stock basis was $4,000. The corporation earned $11,000 ordinary income during the year. It has no accumulated E & P. Which statement is correct? a. Nutt recognizes a $1,000 LTCG. b. Nutts stock basis will be $2,000. c. Nutts ordinary income is $15,000. d. Nutts return of capital is $11,000. e. None of the above