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Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has...

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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 Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year 720 $ 2,080 $ 1,380 $ 70 $ 400,000 $ 24,000 Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement

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