E5-16 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 Canoes Produced and Sold Total costs 550 750 900 Variable costs Fixed costs $110,000 S 150,000 S180,000 5500099,000 49.000 99.000 Total costs $209,000 S 249,000 S279,000 Cost per unit Variable cost per unit Fixed cost per unit $ 20000 S 20000 S 200.00 18000 13200 110 00 $ 330.00 S 332.00 S 310.00 Total cost per unit Riverside sells its canoes for $460 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 two decimal places (Le, .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $560 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Scenario 3 Decrease Fixed Cost by 20 Percent Percent Unit Contribution Margin Contribution Margin Ratio Contribution Margin Net Operating Income