Exercise 8-8 Budgeted Income Statement [LO8-9 Gig Harbor Boating is the wholesale distributor of a small recreational catamaran salilboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit salen selling price per unit Cost per unit Variable selling and adminiatrative expense (per unie) Fixed selling and administrative expense (per year) Interest expense for the year 800 2,120 $ 1,390 65 s 500,000 s 28,000 Required: Prepare the company's budgeted income statement for the year Gig Harbor Boating Budgeted Income Statement Varae seiang ana admin1strative expense (per unit) Pixed selling and administrative expense (per year) Interest expense for the year s 500,000o s 28,000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement Book Hint Print rences