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 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 660 2$ 2,050 1,480 2$ $ 245,000 $ 21,000 85 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement