Required information [The following information applies to the questions displayed below.) Hans runs a sole proprietorship. Hans has reported the following net 51231 gains and losses since he began business. Net $1231 gains shown are before the look back rule. (Leave no answer blank, Enter zero if applicable.) Net 51231 Year Gains/(Losses) Year 1 5(65,000) Year 2 15.000 Year 3 Year 4 Year 5 10,000 Year 6 Year 7 (current year) 50,000 a. What amount, if any, of the year 7 (current year) $50,000 net $1231 gain is treated as ordinary income? Ordinary Income