$50,265 Question 31 (2 points) Scott is experiencing cash flow problems during the current year. Rather than foreclose on a $90,000 business loan back agrees to reduce the debt to $50,000. Prior to the debt reduction, Scott's total assets were $600,000 and his tota liabilities were $610,000. How much income must Scott recognize from the reduction of his bank loan? Oa) $0 b) $10,000 Oc) $20,000 d) $30,000 Eion 32 (2 points) Credit: Saved rita, a single indiui Her tota