Ellie and YiLing are equal owners in Otter Enterprises, a calendar year business. During the current year, Otter Enterprises has $320,000 of gross income and $210,000 of operating expenses. In addition, Otter has a long-term capital gain of $15,000 and makes distributions to Ellie and YiLing of $25,000 each. What is the impact of this information on the taxable income of Otter, Ellie, and YiLing if Otter is (a) a partnership, (b) an S corporation, and (c) a C corporation? If an amount is zero, enter "0". a. If Otter is a partnership, it will report net ordinary business income (loss) of $ and each will report net profit of $ receive a Schedule K-1 110,000 on its Form 1065. Ellie and YiLing will 55,000 and separately stated long-term capital gain of for Ellie and YiLing. 15,000 X.The 20%/15%/0% preferential tax rate applies to only the long-term capital gain The partner's distributions do not affect Otter's taxable income and are not reported as income by Ellie and YiLing. The partners' basis in the partnership is decreased by the distributions.