During Year 2, Colt Company experienced financial difficulties and is likely to default on a $500,000, 15%, 3-year note dated January 1, Year 1, and made payable to Cain National Bank On December 31, Year 2, the bank agreed to settle the note and unpaid Year 2 interest of $75,000. The settlement amount is $410,000 cash payable on January 31, Year 3. What amount Should Colt report as a gain from the debt restructuring in its Year 2 income statement