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X Company reported the following balance sheet information for 2019: January December 31 Total $15,136 $18,818 Assets Liabilities 8,369 5,157 4,382 8,339 Paid-in Capital Retained
X Company reported the following balance sheet information for 2019: January December 31 Total $15,136 $18,818 Assets Liabilities 8,369 5,157 4,382 8,339 Paid-in Capital Retained Earnings 2,385 5,322 $15,136 $18,818 Total Equities The following information is for X Company for 2019: $13,990 Equipment, January 1 $18,016 Equipment, December 31 $9,183 Purchases of equipment $3,738 Cost of equipment sold Depreciation expense X Company is a service company and prepares monthly financial statements. In April, it billed customers $401,000 for services it provided; in May, it billed customers $351,000 for services it provided. In May, the company received $280,000 from its April customers and $257,000 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, $537,000; Statement of Cash Flows, $752,000 ooo Income Statement, $351,000; Statement of Cash Flows, $537,000 both statements, $351,000 Income Statement, $537,000; Statement of Cash Flows, $351,000 Income Statement, $752,000; Statement of Cash Flows, $537,000 both statements, $257,000
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