On December 31, 2021, Valor, a calendar-year S corporation since 2000, made a $100,000 distribution to its sole shareholder, Bryant. Valor's books and records reflect the following for 2021 : \begin{tabular}{lr} Accumulated adjustments account -- 1/1/21 & $5,000 \\ Ordinary income for 2021 & 50,000 \\ Previously taxed income account at the & 10,000 \\ time of the distribution & \\ \begin{tabular}{l} Accumulated earnings and profits at the \\ time of the distribution \end{tabular} & 5,000 \end{tabular} Bryant's basis in Valor's stock on January 1, 2021, was $30,000. How much income will Bryant report from this S corporation investment in 2021 , and what is its character? Treat any dividends as ordinary income. \begin{tabular}{cccc} & Ordinary Income & & Capital Gain \\ A. & $50,000 & & $60,000 \\ B. & $55,000 & & $15,000 \\ C. & $50,000 & & $10,000 \\ D. & $70,000 & & $0 \end{tabular}