Alabaster Company is a Subchapter S corporation. It properly reported net income of $250,000 for financial statement purposes. It had net capital gains of $60,000 and charitable contributions of $20,000. What is the ordinary business income (loss) of Alabaster Company that will be reported to its shareholders on Schedule K-1?
A. $270,000.
B. $290,000.
C. $330,000.
D. $210,000.
Answer: D
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