Practice Problem 1 (Part Level Submission) The following CVP income statements are available for Blanc Company and Noir Company. Blanc Company Noir Company Sales $450,000 $450,000 225,000 Variable costs 270,000 Contribution margin 180,000 162,000 Fixed costs 225,000 207,000 $18,000 Net income $18,000 (d) Assuming that sales revenue decreases by 20%, prepare a CVP income statement for each company. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Blanc Company Noir Company Sales $ $ Variable costs Contribution margin Fixed costs Net income / (Loss) $ $ Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 2 used SAVE FOR LATER SUBMIT ANSWER % Earn Maximum Points available only if you answer this question correctly in your first attempt