On January 1, Yeat 1, Jing Company purchased office equipment that cost $34,000 cash. The equipment was deliveted under terms fOB shipping point, and transportation cost was $2,000 The equipment has of fwe-yent isc fut lite and a $12,000 expected salvage value. ine method. The office equipment was sold on December 31 , Year 3 for $16,000. What is the companys net income foss) for Year 3