Arthur Corporafion, an S corporation, reports the following results for the current year: Arthur's AMA and accumulated E\&P balances at the beginning of the yeaf are $80,000 and $50,000, respectively Arthur makes a $210,000 cash distribution to its soln shareholder on June 1 The sharehoideri basis for Arthut stock on January 1 was $120,000 Discuss the tax consequences of therle trinsinctons How much of the distrbuthen is taxabie? A) $50,000 taxable as a dividend B) 540,000 taxable as a dividend C) $20,000 tuxable as a dividend, $20,000 taxable as a captal gain D) $50,000 taxable as a capital gain