T, a calendar-year corporation that began doing business 10 years ago, had $35,000 in accumulated earnings and profits on January 1 of this year. T had an operating loss of $60,000 for the first 6 months of this year but had $10,000 in earnings and profits for the entire year. T made a distribution of $25,000 cash to its shareholder on April 1 this year. What is the amount of T's accumulated earnings and profits at the close of business on December 31? A. $10,000 B. $45,000 C. $20,000 D. $0