For the current taxable year, HIJ Inc. had gross receipts from operations of $230,000, operating and other expenses of $310,000, and $120,000 of dividends that it received from a 45 percent-owned domestic corporation. For the current taxable year, HIJ Inc. has taxable income or a net operating loss of what amount?
A. $8,000 taxable income.
B. $40,000 taxable income.
C. $56,000 net operating loss.
D. $80,000 net operating loss.