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Which statement correctly describes the phosphate ion, ? it is composed of one phosphorus atom and four oxygen atoms covalently bonded together, and there is a –3 charge distributed over the entire ion. it is composed of one phosphorus atom and four oxygen atoms covalently bonded together, and there is a –3 charge on the phosphorus atom. it is composed of one phosphorus atom and four oxygen atoms ionically bonded together, and there is a –3 charge distributed over the entire ion. it is composed of one phosphorus atom and four oxygen atoms ionically bonded together, and there is a –3 charge on the phosphorus atom.