Cobb Co. purchased 10,000 shares (2% ownership) of Roe Co. on February 12, year 2. Cobb received a stock dividend of 2,000 shares on March 31, year 2, when the carrying amount per share on Roe's books was $35 and the market value per share was $40. Roe paid a cash dividend of $1.50 per share on September 15, year 2. In Cobb's income statement for the year ended October 31, year 2, what amount should Cobb report as dividend income?