Bread Corporation is a C corporation with earnings of $100,000. It paid $10,000 in dividends to its sole shareholder, Gerald. Gerald also owns 100% of Butter Corporation, an S corporation. Butter had net taxable income of $60,000 and made a $15,000 distribution to Gerald. What income will Gerald report from Bread and Butter's activities A. $70,000 B. $115,000 C. $160,000 D. $85,000