Riverside Inc. makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold 400 Total costs Variable costs Fixed costs Total costs Cost per unit 600 750 $ 52,000 $ 78,000 $ 97,500 180,000 $232,000 180,000 $258,000 180,000 $277,500 Variable cost per unit Fixed cost per unit Total cost per unit $ 130.00 $ 130.00 $ 130.00 450.00 300.00 240.00 $ 580.00 $ 430.00 $ 370.00 Riverside sells its canoes for $660 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 $660 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 1 Raises Sales Price to $760 per Canoe Scenario 2 Increase Unit Contribution Margin $ 630.00 Sales Price and Variable Cost per Unit by 10 Percent $ Scenario 3 Decrease Fixed Cost by 20 Percent 583.00 $ 530.00 Contribution Margin Ratio 82.89% 80.30 % 80.30% Sales Revenue 760,000 Contribution Margin Income Statement $ Variable Costs 130,000 $ 726,000 143,000 $ 660,000 130,000 Contribution Margin Fixed Costs Net Operating Income Riverside sells its canoes for $660 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 Sales Scenario 1 Raises Sales Price to $760 per Canoe Price and Scenario 3 Decrease Fixed Variable Cost per Cost by 20 Unit by 10 Percent Percent Unit Contribution Margin $ 630.00 5 583.00 $ 530.00 Contribution Margin 82.89 % 80.30 % 80.30 % Ratio Contribution Margin Income Statement Sales Revenue 5 760,000 $ 726,000 Variable Costs 130,000 143,000 >> $ 660,000 130,000 Fixed Costs 630,000 583,000 530,000 Net Income After Taxes 180,000 180,000 144,000 Contribution Margin $ 450,000 x $ 403,000 $ 386,000 Sales Revenue Variable Costs Fixed Costs 760 726 660 130 143 130 C 630 X 583 Net Operating Income $ 180,000 x $ 180,000 > 530 $ 144,000 X *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted