Required information [The following information applies to the questions displayed below) Bourne Guitars, a corporation, reported a $220,000 net 51231 gain for year 6. a. Assuming Bourne reported $61,250 of nonrecaptured net 51231 losses during years 1-5, what amount of Bourne's net $1231 gain for year 6, if any, is treated as ordinary income? Boume's gain treated as ordinary income Required information The following information applies to the questions displayed below) Bourne Guitars, a corporation, reported a $220,000 net 51231 gain for year 6. b. Assuming Bourne's nonrecaptured net 61231 losses from years 1-5 were $295,000, what amount of Bourne's net 61231 gain for year 6, if any, is treated as ordinary income? Bourne's gain treated as ordinary income