During the year, X Company sold merchandise on account to customers for $414,000. The company collected $395,000 in cash from customers during the year. Which of these amounts appears on the Income Statement and which appears on the Statement of Cash Flows? $395,000 appears on both statements $395,000 appears on the Income Statement and $414,000 appears on the Statement of Cash Flows $414,000 appears on both statements $414,000 appears on the Income Statement and $395,000 appears on the Statement of Cash Flows $19,000 appears on both statements $19.000 appears on the Income Statement and $395.000 appears on the Statement of Cash Flows