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 Sold 550 750 900 Total costs Variable costs $110,000 Fixed costs Total costs $150,000 99,000 99,000 $209,000 $ 249,000 $180,000 99,000 $279,000 Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 200.00 $ 200.00 $ 200.00 180.00 132.00 110.00 $380.00 $ 332.00 $310.00 Riverside sells its canoes for $460 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.) Unit Contribution Margin Contribution Margin Ratio Contribution Margin Net Operating Income 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 % Contribution Margin Income Statement % 20.00 %