6 E5-19 (Algo) Calculating Contribution Margin and Contribution Ratio, Preparing Contribution Margin Income Statement (LO 5-5) 4 points Riverside Inc. makes one model of wooden canoe. Partial information for it follows: 450 650 800 Number of Canoes Produced and Sold Total costs Variable costs Fixed costs $ 63,000 187,200 eBook $ 91,000 187,200 $ 278, 200 $112,000 187,200 $299,200 Total costs $250, 200 $ 140.00 Hint Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 140.00 416.00 288.00 $ 140.00 234.00 $ 556.00 $ 428.00 $ 374.00 Print Riverside sells its canoes for $700 each. Next year Riverside expects to sell 1,000 canoes. References 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 (.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $800 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 Sales Revenue Variable Costs Contribution Margin Fixed Costs Net Operating Income