X Company is a service company and prepares monthly financial statements. In April, it billed customers $415,000 for services it provided; in May, it billed customers $350,000 for services it provided. In May, the company received $285,000 from its April customers and $276,000 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, $276,000 Income Statement, $561,000; Statement of Cash Flows, $350,000 Income Statement, $765,000; Statement of Cash Flows, $561,000 Income Statement, $561,000; Statement of Cash Flows, $765.000 both statements, $350,000 Income Statement, $350,000; Statement of Cash Flows, $561,000