During 2009, Finch Corporation Incurs the Following Transactions Finch Maintains a Valid S Election and Does Not Distribute

During 2009, Finch Corporation incurs the following transactions. $\begin{array}{ll}\text { Net income from operations } & \$ 110,000 \\\text { Long-term capital gain from sale of securities } & 43,000 \\\text { Short-term capital loss from sale of securities } & 23,000\end{array}$ Finch maintains a valid S election and does not distribute any dividends to its sole shareholder, David.As a result, David must recognize:

A) Ordinary income of $110,000 and long-term capital gain of $20,000.
B) Ordinary income of $110,000, long-term capital gain of $43,000, and $23,000 short-term capital loss.
C) Ordinary income of $110,000, long-term capital gain of $43,000, and $3,000 short-term capital loss.
D) Ordinary income of $110,000.
E) None of the above.