On January 1, Year 1, Ballard company purchased a machine for $34,000. On January 1 , Year 2, the company spent $10,000 to improve its quality. The machine had a $5,200 salvage value and a 6 -year life, which are unchanged. Ballard uses the straight-line method. What is the book value of the machine on December 31 , Year 4 ? Multiple Choice $13,600 $6,800 $14,400 $18,800 On January 1, Year 1, Jing Company purchased office equipment that cost $35,900cash. The equipment was delivered under terms fOB shipping point and transportation cost was $3,900. The equipment had a five-year useful life and a $10,100 expected salvage value. Assume that Jing Company earned $39,500 cash revenue and incurred $28,500 in cash expenses in Year 3 . The company uses the straight-line method. The office equipment was sold on December 31, Year 3 for $17,900. What is the company's net income (loss) for Year 3 ? Multiple Choice $980 $6,920 $5,080 (55,080)