Rooney Company currently produces and sells 7,500 units annually of a product that has a variable cost of $14 per unit and annual fixed costs of $222,000. The company currently earns a $78,000 annual profit. Assume that Rooney has the opportunity to invest in new labor-saving production equipment that will enoble the company to reduce variable costs to $12 per unit. The investment would cause flxed costs to increase by $9,500 because of additional depreciation cost. Required a. Use the equation method to determine the sales price per unit under existing conditions (current equipment is usec). b. Prepore a contribution margin income statement, assuming that Rooney invests in the new production equipment. Complete this question by entering your answers in the tabs below. Prepare a contribution margin inceme statement, assuming that Rooney invests in the new production equipment