On January 1, Year 1, Jing Company purchased office equipment that cost $15,200 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $1,300. The equipment had a five-year useful life and a $5,700 expected salvage value. Assume that Jing Company earned $17,400 cash revenue and incurred $11,000 in cash expenses in Year 3. The company uses the straight-line method. The office equipment was sold on December 31, Year 3 for $8,900. What is the company's net income (loss) for Year 3? a. $4,752 and $12,672
b. $2,200 and $12,760
c. $2,851 and $16,151
d. $0 and $13,300

The expenditures and receipts below are related to land, land improvements, and buildings acquired for use in a business enterprise. the receipts are enclosed in parentheses. money borrowed to pay building contractor (signed a note) $(276,500 ) (b) payment for construction from note proceeds 276,500 (c) cost of land fill and clearing 11,220 (d) delinquent real estate taxes on property assumed by purchaser 8,340 (e) premium on 6-month insurance policy during construction 12,060 (f) refund of 1-month insurance premium because construction completed early (2,010 ) (g) architect’s fee on building 27,040 (h) cost of real estate purchased as a plant site (land $206,800 and building $55,900) 262,700 (i) commission fee paid to real estate agency 9,620 (j) installation of fences around property 4,030 (k) cost of razing and removing building 10,130 (l) proceeds from salvage of demolished building (4,910 ) (m) interest paid during construction on money borrowed for construction 13,700 (n) cost of parking lots and driveways 17,690 (o) cost of trees and shrubbery planted (permanent in nature) 14,080 (p) excavation costs for new building 2,950 identify each item by letter and list the items in columnar form.