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:

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 820 Selling price per unit 2, 130 Cost per unit 805 'T. Variable selling and administrative expense (per unit) 75 Fixed selling and administrative expense (per year ) Interest expense for the year 29, 808 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement