Exercise 8-8 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 680 $ 2,060 $ 1,680 s 50 $ 200,000 S 22,000 Required Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement