Dixon Corporation Was Incorporated on January 1, 2005

Dixon Corporation was incorporated on January 1, 2005. The corporation made its S election on April 1, 2008. The corporation retains an E&P balance from its C corporation days. Which one of the following current- year income and expense items is not included in Dixon Corporation's Accumulated Adjustments Account?

A) tax- exempt bond interest income
B) long- term capital gains and losses
C) ordinary income or loss
D) amortization of organizational expenditures