Would Profit Made by a Company on the Sale of Land

Would profit made by a company on the sale of land, that was formed for the purpose of buying and selling land, be assessable?

A) Yes as the sale of the land on these facts would not be a mere realisation
B) Yes as all profits and gains are assessable to business
C) No as the sale involves a capital asset and so the profit could not be ordinary income
D) No as land sales are only assessable under the capital gains tax rules