Beckham Corporation was incorporated on January 1, 2012. The corporation made its S election on November 1, 2015. The corporation retains an E&P balance from its C corporation days. During the current year, it made a cash distribution to its sole shareholder Odell Beckham Jr.. What is the proper sequence in reducing the corporate earnings accounts for the distribution?

A) AAA; E&P

B) AAA; OAA; E&P

C) E&P; AAA

D) AAA; PTI; E&P