X Company is a service company and prepares monthly financial statements. In April, it billed customers $411,000 for services it provided; in May, it billed customers $367,000 for services it provided. In May, the company received $286,000 from its April customers and $275,000 from its May customers. Which of the following amounts will appear on X Company's May Income Statement and Statement of Cash Flows? O Income Statement, $367,000; Statement of Cash Flows, $561,000 both statements, $367,000 O Income Statement, $778,000; Statement of Cash Flows, $561,000 Income Statement, $561,000; Statement of Cash Flows, $367,000 O both statements, $275,000 O Income Statement, $561,000; Statement of Cash Flows, $778,000