Gig Harbor Boating is the wholesale distributor of a recreational sailboat. Management provided the following data for budgeting purposes: Budgeted unit sales 820 Selling price per unit $ 2,130 Cost per unit $ 1,500 Variable selling and administrative expense (per unit) $ 75 Fixed selling and administrative expense (per year) $ 400,000 Interest expense for the year $ 29,000 Required: Prepare a budgeted income statement for the year