X Company is a service company and prepares monthly financial statements. In April, it billed customers $407,000 for services it provided; in May, it billed customers $358,000 for services it provided. In May, the company received $282,000 from its April customers and $278,000 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. $560,000; Statement of Cash Flows, $350,000 both statements, $358,000 Income Statement, $765,000; Statement of Cash Flows, S560,000 both statements, 5278,000 Income Statement, S560,000; Statement of Cash Flows, $765,000 Income Statement, $350,000; Statement of Cash Flows, S560,000