Jimmy has fallen on hard times recently. Last year he borrowed $250,000 and added an additional $50,000 of his own funds to purchase $300,000 of undeveloped real estate. This year the value of the real estate dropped dramatically, and Jimmy's lender agreed to reduce the loan amount to $230,000. For each of the following independent situations, indicate the amount Jimmy must include in gross income: Note: Leave no answer blank. Enter zero if applicable. Required: a. The real estate is worth $175,000 and Jimmy has no other assets or liabilities. b. The real estate is worth $235,000 and Jimmy has no other assets or liabilities. c. The real estate is worth $200,000 and Jimmy has $45,000 in other assets but no other liabilities.