Check E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement (LO 5-5) Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canges Produced and sold 750 400 600 $ 52,000 $ 78,000 $ 97,500 180,000 180,000 180,000 $232,000 $258,000 $277,500 Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 130.00 $ 130.00 $ 130.00 450.00 300.00 240.00 $ 580.00 $ 430.00 $ 370.00 Riverside sells its canoes for $660 each. Next year Riverside expects to sell 1000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. (Round your unit contribution margin and contibution margin ratio to 2 decimal places (ie. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Ralses Sales Price to $760 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio % % Check Riverside sells its canoes for $660 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (l.e. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Ralses Sales Price to $760 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio % % Contribution Margin Income Statement + Contribution Margin Net Operating Income