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: anber of Cancer Produced and told 650 Total conta $ 69,750 5100, 750 $139,500 230,000 500 234.000 214,000 6303,750 334,750 937), 500 Variable costa Fixed conta Total conta Cost per unit Variable cont per unit Pixed cont per unit Total cost per unit $ 155.00 155.00 155.00 520.00 360.00 260.00 3.675.00 $ 515.00 415.00 Riverside sells its canoes for $750 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 the 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Rules Sales Price to 5850 per Cance Scenario 2 Increase Sales Price and Scenario 3 Decrease Foxed Variable Cost per Unit by te Percent Cost by 20 percent 5 65450 7935 $ Unit Contribution Margin Contribution Margin Ratio 695.00 31.70 Contribution Margin Income Stament 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 ratlo to 2 decimal places (.e. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to 5850 per Canoe $ 895.00 81.76 Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 percent 654.50 79.33% Scenarios Decreased Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio Contribution Margin Income Statement Sales Revenue Variable Coats Contribution Margin Fixed Coats Net Operating Income