Required information The following information applies to the questions displayed belowJ Jimmy has fallen on hard times recently. Last year he borrowed $265,000 and added an additional $86,000 of his owrn funds to purchase $351,000 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 $238,300 For each of the following independent situations, indicate the amount Jimmy must include in gross income: (Leave no answer blank. Enter zero if applicable.) a. The real estate is worth $178,000 and Jimmy has no other assets or liabilities. Scenario A Amount Includible