wn January $1,$ Year $1,$ Jing Company purchased office equipment that cost $$15,500$ cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $$1,600.$ The equipment had a five$-$year useful life and a $$6,000$ expected salvage value$\mathrm{.}801\mathrm{.}03$:$45$Assume that Jing Company earned $$19,800$ cash revenue and incurred $$12,500$ in cash expenses in Year $3.$ The company uses the straight$-$line method. The office equipment was sold on December $31,$ Year $3$ for $$9,800.$ What is the company's net income $($loss$)$ for Year $3?$