Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sallboat. 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 468 $ 1,958 $ 1,575 75 s 105,800 14,000 Required: Prepare the company's budgeted income statement for the year Gig Harbor Boating Budgeted Income Statement