Angelina Ltd acquired 25% of shares and significant influence over the operations of Singleton Ltd on 1 January 20X0. Both companies have financial years ending 31 December. Singleton Ltd reported a profit of $80,000 and paid a cash dividend of $0.04 per share. Singleton Ltd has issued 1 million ordinary shares. Under equity accounting, by how much would the Investment in Singleton Ltd account change for the year ended 31 December 20X0? Select one:

increase of $40,000

decrease of $20,000

increase of $10,000

decrease of $40,000