Question 3 1 pts Jing Company on January 1, Year 1 the company purchased office equipment that cost $15,700 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $1,800. The equipment had a five-year useful life and a $6,200 expected salvage value. Jing Company used Using straight-line depreciation and assuming that the office equipment was sold on December 31, Year 3 for $10,400, the amount of net income or (loss) appearing on the December 31, Year 3 income statement would be: $10,400 gain o o $10,720 loss $6,780 gain o o $320 loss