(1) Leeds Corporation entered into a troubled debt restructuring agreement with their local bank. The bank agreed to accept land with a carrying amount of $360,000 and a fair value of $540,000 in exchange for a note with a carrying amount of $765,000. ignoring income taxes, what amount should Leeds report as a gain on its income statement? on a) $0. b) $180,000 c) $225,000 d) $405.000 (2) The following information pertains to the transfer of real estate in regards to a troubled debt restructuring by North Co to Bell Co. in full settlement of North's liability to Bell: Carrying amount of liability settled $470.000 Carrying amount of real estate transferred $300,000 Fair value of real estate transferred $350,000 What amount should North report as ordinary gain (loss) on the transfer of real estate? al SEO 0001 1530.000 15120.000 di 550.000