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: 550 750 900 $110,000 Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 150,000 $180,000 99,000 99,000 99,000 $209,000 $ 249,000 $ 279.000 $ 200.00 180.00 $ 380.00 $ 200.00 $ 200.00 132.00 110.00 $ 332.00 $ 310.00 Riverside sells its canoes for S460 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 (.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $560 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