Exercise 8-8 Budgeted Income Statement [LO8-9) Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sollboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit salon Selling price per unit Cont per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year 680 $ 2,060 $ 1,680 $ 50 $ 200,000 $ 22,000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement