19.

Seattle Cat is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process:

Budgeted unit sales		385
Selling price per unit	$	1,853
Cost per unit	$	1,445
Variable selling and administrative expenses (per unit)	$	61
Fixed selling and administrative expenses (per year)	$	101,000
Interest expense for the year	$	12,900

Required:

Prepare the companys budgeted income statement using an absorption income statement format shown below. (Input all amounts as positive values except the losses which should be indicated with a minus sign.)

Seattle Cat Budgeted Income Statement
(Click to select)Accounts payableGross marginSelling and administrative expensesNet income (loss)Net operating income (loss)Interest expenseSales	$
(Click to select)Selling and administrative expensesNet operating income (loss)Gross marginCost of goods soldNet income (loss)Interest expenseSales
(Click to select)Cost of goods soldNet income (loss)Selling and administrative expensesNet operating income (loss)SalesGross marginInterest expense
(Click to select)Net operating income (loss)Interest expenseSelling and administrative expensesNet income (loss)SalesCost of goods soldGross margin
(Click to select)Cost of goods soldSelling and administrative expensesSalesNet operating income (loss)Gross marginNet income (loss)Interest expense
(Click to select)Cost of goods soldGross marginInterest expenseSelling and administrative expensesNet operating income (loss)SalesNet income (loss)
(Click to select)Net income (loss)SalesCost of goods soldNet operating income (loss)Gross marginInterest expenseSelling and administrative expenses	$

19 Seattle Cat is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process 385 Budgeted unit sales 1,853 Selling price per unit 1,445 Cost per unit Variable selling and administrative expenses (per unit) 61 101,000 Fixed selling and administrative expenses (per year) Interest expense for the year 12,900 Required Prepare the company's budgeted income statement using an absorption income statement format shown below. (Input a amounts as positive values except the losses which should be indicated with a minus sign.) Seattle Cat Budgeted Income Statement (Click to select) (Click to select) (Click to select) Click to select) Click to select) Click to select) (Click to select)