Jing Company was started on January 1. Year 1 when it issued common stock for $32,000 cash. Also, on January 1 Year I the company purchased office equipment that cost $15.600 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $1.700. The equipment had a five-year useful life and a $6.100 expected salvage value. Assume that Jing Company earned $20,600 cash revenue and incurred $13,000 in cash expenses in Year 3. Using straight-line depreciation and assuming that the office equipment was sold on December 31. Year 3 for $10.100, the amount of net income or loss) appearing on the December 31, Year 3 income statement would be. Multiple Choice 0 151580 C S2380