Poppy Corporation Was Formed Three Years Ago Poppy Corporation's Accumulated E&P on January 1 Will Be
A)

Poppy Corporation was formed three years ago. Poppy's E&P history is as follows: $$\begin{array} { | c | c | c | } \hline \text { Year } & \text { Current E\&P } & \text { Distributions } \\\hline 2005 & \$ 6,000 & \$ 4,000 \\2006 & 5,000 & 1,000 \\2007 & 1,000 & 0 \\\hline\end{array}$$ Poppy Corporation's accumulated E&P on January 1 will be

A) $0.
B) $7,000.
C) $5,000.
D) $12,000.