### Purpoes company budgeted income statement

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##### Reference no: EM1311519

Prepare the company's budgeted income statement.

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:

 Butgeted 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 company budgeted income statement. Use the absorption costing income statement format shown in schedule?

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