Required information The following information applies to the questions displayed below) On January 1, Year 1, Jing Company purchased office equipment that cost $15,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $1,100. The equipment had a five-year useful life and a $5,500 expected salvage value Assume that Jing Company earned $15,800 cash revenue and incurred $10,000 in cash expenses in Year 3. The company uses the straight-line method. The office equipment was sold on December 31, Year 3 for $8,300. What is the company's net income (loss) for Year 32 Multiple Choice $3,060 O $2,240 ($540) O $2,940