On January 1, Year 1, Jing Compory purchased office equipment that cost $34,250 cash. The...
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On January 1, Year 1, Jing Compory purchased office equipment that cost $34,250 cash. The equipaent was dellvered under terms free on board (FoB) shipping point and transportation cost was $2,250. The equipment had a fiveyear usefut iffe and a $12,340 expecied salvage value. Assume that Jing Company eained $30,200 cash revenue and incuired $19.200 in cash expenses in Year 3 . The company uses the straight -line method. The office equipment was sold on December 31, Year 3 for $16,400. What is the company's net income (oss) for Year 3
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