31. LO.1,2 Ellie and Linda are equal owners in Otter Enterprises, a calendar year busi- ness. During the current year, Otter Enterprises has $320,000 of gross income and $210,000 of operating expenses. In addition, Otter has a long-term capital gain of $15,000 and makes distributions to Ellie and Linda of $25,000 each. Discuss the impact of this information on the taxable income of Otter, Ellie, and Linda if Otter is: a. A partnership. b. An S corporation. c. A C corporation