Gig Harbor Boating is the wholesale distributor of a recreational sallboat. Management provided the following data for budgeting purposes:

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

$460$

$$1,950$

$$1,575$

$$75$

$$105,000$

$$14,000$

Required:

Prepare a budgeted income statement for the year.

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