Finny Inc's contribution format income statement for the most recent month is given below: The industry in which Finny inc, operates is quite sensitive to cyclical movements in the economy. Thus, profits vary considerably from year to year according to general economic conditions. The company has a large amount of unused capacity and is studying ways of improving profits. Required: 1. New equipment has come on the market that would allow Finny inc, to automate a portion of its operations. Varlable expenses would be reduced by $6 per unit. However, fixed expenses would increase to a total of $594,000 each month. Prepare two contribution format income statements: one showing present operations, and one showing how operations would appear if the new equipment were purchased