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 Variable costs $110,000 $150,000 $180,000 Fixed costs 99,000 99,000 99,000 Total costa $209,000 $249.000 $279.000 Cost per unit Variable cost per unit $ 200.00 $ 200.00 $ 200.00 Fixed cost per unit 190.00 132.00 110.00 Total cost per unit $ 380.00 $ 332.00 $ 310.00 Riverside sells its canoes for $460 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 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 Raises Sales Price to 5560 per Canon 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 Incomo Statement Contribution Margin Net Operating Income