Purple Corporation has accumulated E & P of $100,000 on January 1, 2013. In 2013, Purple has current E & P of $130,000 (before any distribution). On December 31, 2013, the corporation distributes $250,000 to its sole shareholder, Cindy (an individual).

Purple Corporations E & P as of January 1, 2014 is

:A. $0.B. ($20,000).C. $100,000.D. $130,000.E. None of the above.

with explanation please