value: 3.00 points E5-16 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: 650 Number of Canoes Produced and Sold Total costs 450 Variable costs Fixed costs $ 65,250 S 94,250 $116,000 280,800 280,800 $346,050 S 375,050 $ 396,800 -280,800 Total costs Cost per unit Variable cost per unit Fixed cost per unit $ 145.00 S 145.00 $ 145.00 351.00 624.00 432.00 Total cost per unit 769.00 S 577.00$ 496.00 Riverside sells its canoes for $800 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 two 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 $900 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