Change GUI text on mouse up Java script

Hi I need help with changing a gui text.

I have 4 box collides for my ship selection screen, and when the player selects one of the boxes to pick their ship I would like a gui text to say which ship was last selected and I'd like it so the text changes if the player picks a different ship.

It would be similar to how the debug code looks but im unsure how to apply it to a gui text here's my code so far

//this is the currently selected Player. Also the one that will be saved to PlayerPrefs var selectedPlayer : int = 0;

 function Update() 
 { 
 if (Input.GetMouseButtonUp (0)) {
     var ray = Camera.main.ScreenPointToRay (Input.mousePosition);
     var hit : RaycastHit;
     
     if (Physics.Raycast (ray, hit, 100))
         {
                 // The pink text is where you would put the name of the object you want to click on (has attached collider).
                 
                 if(hit.collider.name == "ShipBox1") 
                 SelectedCharacter1(); //Sends this click down to a function called "SelectedCharacter1(). Which is where all of our stuff happens.
             
                 if(hit.collider.name == "ShipBox2")
                 SelectedCharacter2();
                     
                 if(hit.collider.name == "ShipBox3")
                 SelectedCharacter3();
                 
                 //if(hit.collider.name == "ShipBox4")
                 //SelectedCharacter4();
         } 
         else
         {
         return;               
         }
     } 
 }
 
 function SelectedCharacter1() {
     Debug.Log ("Character 1 SELECTED"); //Print out in the Unity console which character was selected.
     selectedPlayer = 1;
     PlayerPrefs.SetInt("selectedPlayer", (selectedPlayer));
 }
 
 function SelectedCharacter2() {
     Debug.Log ("Character 2 SELECTED");
     selectedPlayer = 2;
     PlayerPrefs.SetInt("selectedPlayer", (selectedPlayer));
 }
 
 function SelectedCharacter3() {
     Debug.Log ("Character 3 SELECTED");
     selectedPlayer = 3;
     PlayerPrefs.SetInt("selectedPlayer", (selectedPlayer));
     
     //}
     
     //function SelectedCharacter4() {
     //Debug.Log ("Character 4 SELECTED");
     //selectedPlayer = 4;
     //PlayerPrefs.SetInt("selectedPlayer", (selectedPlayer));
 }