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Ball, a calendar-year C corporation, had accumulated earnings and profits of $50,000 as of January...

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Accounting

Ball, a calendar-year C corporation, had accumulated earnings and profits of $50,000 as of January 1, Year 1. Ball had a deficit in earnings and profits for Year 1 of $65,000. Ball distributed $25,000 to its shareholders on July 1, Year 1. What is the amount of Ball Corporations accumulated earnings and profits as of December 31, Year 1?
A.
$0
B.
$(15,000)
C.
$(32,500)
D.
$(40,000)

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