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 660 s 2,050 $1,480 85 245,000 21,000 Required Prepare the company's budgeted income statement for the year Gig Harbor Boating Budgeted Income Statement