Exercise 2-12A (Algo) Using fixed cost as a competitive business strategy LO 2-1, 2-2 The following income statements illustrate different cost structures for two competing companies: Income Statements Company Name Gibson Franz Number of customers (a) 90 90 Sales revenue (a 5210) 6 18.900 $ 18,900 Variable cost ( 180) N/A Variable cont ( (16,200) 50) N/A Contribution margin 1900 2,700 Fixed cost (16, 200) Net Income $ 2,700 62,700 Required a. Reconstruct Gibson's income statement, assuming that it serves 180 customers when it lures 90 customers away from Franklin by lowering the sales price to $110 per customer b. Reconstruct Franklin's income statement, assuming that it serves 180 customers when it lures 90 customers away from Gibson by lowering the sales price to $110 per customer Complete this question by entering your answers in the tabs below. Required A Required B