Required information Problem 5-60 (LO 5-3) (Algo) [The following information applies to the questions displayed below.] Jimmy has fallen on hard times recently. Last year he borrowed $341,000 and added an additional $91,500 of his own funds to purchase $432,500 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 $317,000. 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. Problem 5-60 Part b (Algo) b. The real estate is worth $326,300 and Jimmy has no other assets or liabilities