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 cont per unit $ 1,490 Variable selling and administrative expenso (per unit) $ 80 Fixed selling and administrative expense (per year) $ 345,000 Interest expense for the year $ 25,000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement Sales Cost of goods sold Gross margin Variable manufacturing overhead Net operating loss ces