Blossum Corporation is an S corporation. The owners of Blossum are calendar year taxpayers. Blossum desires a October 31 fiscal year end. Blossum's reason for the requested tax year is that the year corresponds to the natural business year for the taxpayer's type of business as suggested by the Natural Business Year Committee of the AICPA in an official release published in Journal of Accountancy. In addition, Blossum uses an October 31 year for financial reporting purposes. Which of the following statements is correct? Group of answer choices Blossum must use a calendar year end. Blossum has established a sufficient business purpose in order to obtain a October 31 year end. Blossum may use an October 31 year end since it conforms with financial statement reporting Blossum may choose any year end without establishing a business purpose. Blossum has not established a sufficent business purpose and should file an election under Section 444 to elect an October 31 year end