On January 1, Year 2, Point Inc, purchased 10% of lona Co.'s common stock. Point purchased additional shares bringing its ownership up to 40% of lona's common stock outstanding on August 1, Year 2. During October, Year 2, lona declared and paid a cash dividend on all of its outstanding common stock. How much income from the lona imvestment should Points Year 2 income statement report? 10% of lona's dividends for January 1 to July 31, Year 2, plus 40% of lona's income for August 1 to December 31, Year 2. 40% of lona's income for August 1 to December 31, Year 2 only. 40% of lona's Year 2 income. Amount equal to dividends received from lona. On January 1, Year 2, Point Inc, purchased 10% of lona Co.'s common stock. Point purchased additional shares bringing its ownership up to 40% of lona's common stock outstanding on August 1, Year 2. During October, Year 2, lona declared and paid a cash dividend on all of its outstanding common stock. How much income from the lona imvestment should Points Year 2 income statement report? 10% of lona's dividends for January 1 to July 31, Year 2, plus 40% of lona's income for August 1 to December 31, Year 2. 40% of lona's income for August 1 to December 31, Year 2 only. 40% of lona's Year 2 income. Amount equal to dividends received from lona