On December 31, 2023, 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 2023: Accumulated adjustments account -- 1/1/23 $ 5,000 Ordinary income for 2023 50,000 Accumulated earnings and profits at the time of the distribution 5,000 Bryant's basis in Valor's stock on January 1, 2023, was $30,000. How much income will Bryant report from this S corporation investment in 2023, and what is its character? Treat any dividends as ordinary income. Ordinary Income Capital Gain A. Ordinary Income $50,000 Capital Gain $10,000 B. Ordinary Income $50,000 Capital Gain $60,000 C. Ordinary Income $70,000 Capital Gain $0 D. Ordinary Income $55,000 Capital Gain $15,000