On January 1, Year 1, Jing Company purchased office equipment that cost $34,100 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,100. The equipment had a five-year useful life and a $11,900 expected salvage value. Assume that Jing Company earned $30,500 cash revenue and incurred $19,500 in cash expenses in Year 3 . The company uses the straight-line method. The office equipment was sold on December 31, Year 3 for $16,100. What is the company's net income (loss) for Year 3 ? Multiple Choice ($6,520) $6,520 $620