Exercise 8-8 (Algo) Budgeted Income Statement [LO8-9] 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 Budgeted unit sales: Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year 520 $1,980 $ 1,660 $ 60 $ 105,000 $ 14,000