X Company is a service company and prepares monthly financial statements. In April, it billed customers $419,000 for services it provided; in May, it billed customers $370,000 for services it provided In May, the company received $286,000 from its April customers and $272,000 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, $789,000; Statement of Cash Flows, $558,000 Income Statement, $370,000; Statement of Cash Flows, $558,000 both statements, $272,000 both statements, $370,000 Income Statement, $558,000; Statement of Cash Flows, $789,000 Income Statement, $558,000; Statement of Cash Flows, $370,000