EXERCISE 9-8 Budgeted Income Statement LO 9-9] Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has data to use in its annual budgeting process Budgeted unit sales Selling price per unt Cost per unlt. Varlable selling and adminlstratlve expenses (per unlt) Flxed selling and administrative expenses (per year) Interest expense for the year 460 $1,950 $1,575 $75 $105,000 $14,000 Required: Prepare the company's budgeted income statement. Use the absorption costing income statement format shown in Schedule 9