Exercise 8-8 (Algo) Budgeted Income Statement [LO8-9) SB 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 $ 2,010 Cost per unit $ 1,470 Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) $ 200,000 Interest expense for the year $ 17,000 Required: Prepare the company's budgeted income statement for the year. 5.45 Gig Harbor Boating Budgeted Income Statement