Required information On May 1, 2021, a company purchased a call option contract on shares of ABC stock for speculative purposes. The call option was for 100 shares at a strike price of $80 per share, with an expiration of July 31, 2021. The company settled the option on July 15 (assume cash settlement). Additional information: Price per share of ABC stock: May 1 $80 June 30 July 15 $82 $85 Time value of option: $60 $50 $40 Use the information above to answer the questions below. The journal entry recorded on June 30 to update time value of the option includes a: (Click to select) Loss recorded in Other Comprehensive Income of $250 Loss recorded in Other Comprehensive Income of $10 Loss recorded in Net income of $250 Loss recorded in Net Income of $10