Required information Problem 11-51 (LO 11-5) (Algo) The following information applies to the questions displayed below) Bourne Guitars, a corporation, reported a $205,000 net $1231 gain for year 6. Problem 11-51 Part-a (Algo) a. Assuming Bourne reported $55,500 of nonrecaptured net $1231 losses during years 1-5, what amount of Bourne's net $1231 gain for year 6, if any, is treated as ordinary income? Answer is complete but not entirely correct. Boume's gain treated as ordinary income $ 149,500 Problem 11-51 Part-b (Algo) b. Assuming Bourne's nonrecaptured net 51231 losses from years 1-5 were $228,000, what amount of Bourne's net $1231 gain for year 6, if any, is treated as ordinary income? Bourne's gain treated as ordinary income