X Company is a service company and prepares monthly financial statements. In April, it billed customers $403,000 for services it provided; in May, it billed customers $363,000 for services it provided. In May, the company received $290,000 from its April customers and $264,000 from its May customers. Which of the following amounts will appear on X Company's May Income Statement and Statement of Cash Flows? Income Statement, $766,000; Statement of Cash Flows, $554,000 O both statements, $264,000 O Income Statement, $554,000; Statement of Cash Flows, $363,000 O Income Statement, $363,000; Statement of Cash Flows, $554,000 O Income Statement, $554,000; Statement of Cash Flows, $766,000 O both statements, $363,000 Submit Answer Tries 0/2