00 Required information Problem 3-54 (LO 3-5) [The following information applies to the questions displayed below.] Part 1 of 2 Hans runs a sole proprietorship. Hans has reported the following net $1231 gains and losses since he began business. Net $1231 gains shown are before the look-back rule. (Leave no answer blank. Enter zero if applicable.) points Net $1231 Gains/(Losses) $(65,000) 15,000 Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 (current year) Print 10,000 50,000 1 Problem 3-54 Part-a a. What amount, if any, of the year 7 (current year) $50,000 net $1231 gain is treated as ordinary income? Ordinary income $ 50,000