on January 1, Year 1, Jing Company purchased office equipment that cost $34,400 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,400. The equipment had a five-year useful life and a $11.600 expected salvage value. Assume that Jing Company earned $32,000 cash revenue and incurred $21000 in cash expenses in Year 3. The company uses the straight-line method. The office equipment was sold on December 31, Year 3 for $16,400. What is the company's net income (loss) for Year 3? Multiple Choice ($6,280) $680 55,720 36.280