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

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Accounting

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 460
Selling price per unit $ 1,950
Cost per unit $ 1,575
Variable selling and administrative expense (per unit) $ 75
Fixed selling and administrative expense (per year) $ 105,000
Interest expense for the year $ 14,000
Required:
Prepare the companys budgeted income statement for the year.\\table[[Gig Harbor Boating],[,]]
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