Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process:

Budgeted unit sales		740
Selling price per unit	$	2,090
Cost per unit	$	1,490
Variable selling and administrative expense (per unit)	$	80
Fixed selling and administrative expense (per year)	$	345,000
Interest expense for the year	$	25,000

Gig Harbor Boating Budgeted Income Statement