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: 800 950 Number of Canoes Produced and sold 600 Total costs Variable costs $129,000 Fixed costs 228,000 Total costs $357,000 Cost per unit Variable cost per unit $ 215.00 Fixed cost per unit 380.00 Total cost per unit $ 595.00 $172,000 228,000 $ 400,000 $ 204,250 228,000 $432,250 $ 215.00 285.00 $ 215.00 240.00 $ 500.00 $ 455.00 Riverside sells its canoes for $670 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 Scenario 3 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 1 Raises Sales Price to $770 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