Exercise $8-8($Algo$)$ Budgeted Income Statement $[$LO$8-9]$

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

$\backslash$table$[[$Budgeted unit sales,$480],[$Selling price per unit,$$1,960$