Abacus Inc. operating in the commercial real estate rental market and currently an S corporation, and a former C corporation, had Accumulated E&P of $35,000 and had a positive balance in its AAA account of $15,000. Archibald, Abacus' sole shareholders stock basis is $30,000. During the year Abacus had a section 1231 gain of $10,000, ordinary income of $40,000 and made a cash distribution of $30,000 to Archibald. What amount of this income, including dividend income if any, should be reported on Archibald's form 1040?

Group of answer choices

$50,000

$30,000

$10,000

$40,000