E5-19 (Algo) 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 450 650 800 Sold Total costs Variable costs $ 65,250 $ 94,250 $116,eee Fixed costs 280,800 280, 8ee 280,880 Total costs $346,850 $375, ese $396,888 Cost per unit Variable cost per unit $ 145.00 $ 145.00 $ 145.00 Fixed cost per unit 624.00 432.00 351.00 Total cost per unit $ 769.00 $ 577.ee $ 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 2 decimal places i.e.1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) 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 $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 Not Operating Income