Tangelo Corporation has an August 31 year-end. Tangelo had $50,000 in accumulated E & P at the beginning of its 2020 fiscal year (September 1, 2019) and during the year, it incurred a $75,000 operating loss. It also distributed $65,000 to its sole shareholder, Cass, on November 30, 2019. If Cass is a calendar year taxpayer, how should she treat the distribution when she files her 2019 income tax return (assuming the return is filed by April 15, 2020)? Oa. The distribution has no effect on Cass in the current year. Ob. $50,000 of dividend income and $15,000 recovery of capital. Oc. $60,000 of dividend income and $5,000 recovery of capital. Od. $65,000 of dividend income. Oe. None of these choices are correct