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

Required:

Prepare the company's budgeted income statement for the year.

$520$

$$1,980$

$$1,660$

$$60$

$$105,000$

$$14,000$