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Prepare the companys budgeted income statement

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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 760

Selling price per unit $2,100

Cost per unit $1,690

Variable selling and administrative expense (per unit) $90

Fixed selling and administrative expense (per year) $200,000

Interest expense for the year $26,000

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

Reference no: EM132513544

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