Seattle Cat 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	380
Selling price per unit	$ 1,850
Cost per unit	$ 1,425
Variable selling and administrative expenses (per unit)	$ 85
Fixed selling and administrative expenses (per year)	$ 105,000
Interest expense for the year	$ 11,000

Required:

Prepare the companys budgeted income statement using an absorption income statement format shown below.

Seattle Cat

Budgeted Income Statement

Sales: $2,000,000

Cost of goods sold: $1,300,000

Gross margin: $700,000

Selling and administrative expenses: $576,000

Net operating income: $124,000

Interest expense: $21,900

Net income: $102,100

These numbers I have put in the "Seattle Cat - Budgeted Income Statement" is incorrect... I need help with knowing the right numbers please