On January 1, Year 1, Chris purchased office equipment that cost $34,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,000. The equipment had a five-year useful life and a $12,000 expected salvage value.

Assume that Chris earned $30,000 cash revenue and incurred $19,000 in cash expenses in Year 3. Chris uses the straight-line method. The office equipment was sold on December 31, Year 3 for $16,000. What is Chris's net income (loss) for Year 3?