X Company is a service company and prepares monthly financial statements. In March, it billed customers $405,000 for services it provided; in April, it billed customers $367,000 for services it provided.

In April, the company received $281,000 from its March customers and $274,000 from its April customers.

Which of the following amounts will appear on X Company's April Income Statement and Statement of Cash Flows? Income Statement, $367,000; Statement of Cash Flows, $555,000 both statements, $274,000 Income Statement, $772,000; Statement of Cash Flows, $555,000 Income Statement, $555,000; Statement of Cash Flows, $772,000 Income Statement, $555,000; Statement of Cash Flows, $367,000 both statements, $367,000