Volcano Corporation, an S corporation, reports the following results for the current year Volcano's AAA and accumulated E\&P balances at the beginning of the year are $80,000 and $50,000, respectively Volcano makes a $200,000 cash distribution to its sole shareholder, Lava, on June 1 . The shareholder's basis for Volcano stock on January 1 was $120,000 Discuss the tax consequences of these transactions What is the remaining balance in the AAA and Accumulated E\&P accounts at year end (atter the distribution)? A) AMA: $160,000, Acc E\&P $50,000 B) AAA $0; AcC E\&P $50,000 C) AAA $0,AcC E\&P $0 D) AAA $0.ACC E\&P $10,000