X Company is a service company and prepares monthly financial statements. In April, it billed customers $400,000 for services it provided; in May, it billed customers $369,000 for services it provided.

In May, the company received $282,000 from its April customers and $254,000 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, $536,000; Statement of Cash Flows, $769,000 - both statements, $254,000 - Income Statement, $369,000; Statement of Cash Flows, $536,000 - Income Statement, $769,000; Statement of Cash Flows, $536,000 - both statements, $369,000 - Income Statement, $536,000; Statement of Cash Flows, $369,000