Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following ummary data to use in its annual budgeting process: 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 the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement. 480 $ 1,960 $ 1,350 $ 40 $225,000 $ 12,000