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 Canoes Produced and Sold 550 750 900 Total costs $112,75 148,500 $153 costs 148,500 Fixed 148,500 $261,250 $302,250 $333,000 Total costs Variable cost per unit 205.00 205.00 205.00 270.00 $ 475.00 198.00 $ 403.00 165.00 Fixed cost per unit $ 370.00 Total cost per unit Riverside sells its canoes for $550 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 (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Riverside sells its canoes for $550 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 (i.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 2 Increase Scenario 1 Raises Sal Scenario 3 Sales Price and Variable Cost per Unit by 10 Percent $650 De ed per Canoe Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio % % Contribution Margin Income Statement Contribution Margin Net Operating Income