! Required information [The following information applies to the questions displayed below) Jimmy has fallen on hard times recently. Last year he borrowed $278.000 and added an additional $54,500 of his own funds to purchase $332,500 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 $250,900, For each of the following independent situations, indicate the amount Jimmy must include in gross income (Leave no answer blonk. Enter zero if applicable.) 6. The real estate is worth $190,600 and Jimmy has no other assets or liabilitles. Scenario A Amount includible