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 expenses (per unit) 580 $2,010 $1,470 $45 Fred selling and administrative expenses (per year) $200 000 Interest expense for the year $17,000 Required: Prepare the company's budgeted income statement using an absorption income statement format Gig Harbor Boating Budgeted Income St Ask 0