Answer:
Option "D" is the correct answer to the following statement.
Explanation:
Given:
Stock basis at opening = $60,000
Ordinary income for the Taxable year = $22,000
Distribution receive = $35000
Computation of stock at the time of sales.
Stock at the time of sales = Stock basis at opening + Ordinary income for the Taxable year - Distribution receive
= $60,000 + $22,000 - $35,000
= $82,000 - $35,000
= $47,000