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: Number of Canoes Produced and Total costs 400 Variable costs Fixed costs $50,000 75,000 93,750 00090000 90,000 $140,000 165,000 183,750 90,000 90.000 Total costs Cost per unit S 125.00 S 125.00 $ 125.00 150.00 20.00 350.00 275.00 245.00 225.00 Fixed cost per unit Total cost per unit Riverside sells its canoes for $430 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 $530 per Canoe Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent Scenario 3 Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Rato Contribution Margin Income Statement Contribution Margin Net Operating Income