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 $370,000 for services it provided. In May, the company received $285,000 from its April customers and $260,000 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, $545,000; Statement of Cash Flows, $777,000 O both statements, $260,000 Income Statement, $545,000; Statement of Cash Flows, $370,000 Income Statement, $777,000; Statement of Cash Flows, $545,000 O both statements, $370,000 Income Statement, $370,000; Statement of Cash Flows, $545,000