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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 2, 020 Cost per unit $ 1, 678 Variable selling and administrative expense (per unit) $ 55 Fixed selling and administrative expense (per year) $ 187, 909 Interest expense for the year Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement