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 660 $ 2,050 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 $ 1,480 $ 85 $ 245,000 $ 21,000