Gig Harbor Boating is the wholesale distributor of a recreational sailboat. 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 Required: Prepare a budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement 640 $ 2,040 $ 1,370 $75 $ 300,000 $ 20,000

Gig Harbor Boating is the wholesale distributor of a recreational sailboat. Management provided the following data for budgeting purposes: Required: Prepare a budgeted income statement for the year