On January 1, Year 1, Jing Company purchased office equipment that cost $34,800 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,800. The equipment had a five-year useful life and a $11,200 expected salvage value. Assume that Jing Company earned $34,000 cash revenue and incurred $23,000 in cash expenses in Year 3. The company uses the straight-line method. The office equipment was sold on December 31 , Year 3 for $16,800. Whit is the company's net income (loss) for Year 3? Multiple Choice $5,960 $6,040 ($5,960) $760