Pelican,Inc. ,a closely held corporation (not a PSC),has a $350,000 loss from a passive activity,$135,000 of active income,and $160,000 of portfolio income.How much is Pelican's taxable income?
A)($55,000).
B)$0.
C)$135,000.
D)$295,000.
E)None of the above.

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The Answer of Pelican,Inc. ,a closely held corporation (not a PSC),has a $350,000 loss from a passive activity,$135,000 of active income,and $160,000 of portfolio income.How much is Pelican's taxable income?
A)($55,000).
B)$0.
C)$135,000.
D)$295,000.
E)None of the above.