A Company is a service company and prepares monthly financial statements. In April, it billed customers $405,000 for services it provided; in May, it billed customers $361,000 for services it provided.

In May, the company received $287,000 from its April customers and $271,000 from its May customers.

Which of the following amounts will appear on X Company's May Income Statement and Statement of Cash Flows? both statements, $271,000 both statements, $361,000 Income Statement, $766,000; Statement of Cash Flows, $558,000 Income Statement, $558,000; Statement of Cash Flows, $766,000 Income Statement, $361,000; Statement of Cash Flows, $558,000 Income Statement, $558,000; Statement of Cash Flows, $361,000