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 460 telling price per unit $ 1.950 cost per unit $ 1,575 Valable selling and administrative expenne (per unit) $75 Fixed selling and administrative expense (per year) $ 105,000 Interest expense for the year 5 14,000 Required: Prepare the company's budgeted Income statement for the year. Gig Harbor Boating Budgeted Income Statement Cost of goods sold