In that case, the image is not prepared.
You can build it though.
Within the foreach loop add this code for your image:
<?php if (JFile::exists(JPATH_SITE.'/media/k2/items/cache/'.md5("Image".$item->id).'_M.jpg')): ?>
<img src="<?php echo JUri::base(true).'/media/k2/items/cache/'.md5('Image'.$item->id).'_M.jpg'; ?>" alt="<?php echo K2HelperUtilities::cleanHtml($item->title); ?>" />
<?php endif; ?>
Replace _M in _M.jpg with the size you want (pick from XS, S, M, L, XL, Generic).
