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 $104,500 $ 142,500 $171,000 Fixed costs 198,000 198,000 198,000 Total costs $302,500 $340,500 $369,000 Cost per unit Variable cost per unit $ 190.00 $ 190.00 $ 190.00 Fixed cost per unit 360.00 264.00 220.00 Total cost per unit $ 550.00 $ 454.00 $ 410.00 Riverside sells its canoes for $630 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 (.e. .1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 1 Raises Sales Price to $730 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