Income Statements For the Three Morths Ended September 30 Sales in unts Sales Cost of goods soid Gross margin Selling and administrative expenses 400,000 450,000 240 000 270 000 3 300,000 Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciabon expersie 21,000 21,000 6,000 15,000 15,000 Total selling and administrative expenses Net operating income Required: 1 Identily each of the company's expenses (including cost of goods sold) as ether variable, fixed, or mixed Clas Cost of goods sold dverising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense of 2 Using the high-low method,separate each mixed expense into variable and fxed elements State the cost formula for each mixnd expense per unt per unt per unit 3. Redo the company's income statement at tho 5,000-unit level of activity using the contribution format. Morrisey & Brown, Ltd. Income Statement For the Month Ended September 30 Variable expenses Fixed expenses