Prepare the company budgeted income statement for the year

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Question - 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 780

Selling price per unit $2,110

Cost per unit $1,615

Variable selling and administrative expense (per unit) $55

Fixed selling and administrative expense (per year) $300,000

Interest expense for the year $27,000

Required - Prepare the company's budgeted income statement for the year.

Reference no: EM133120609

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