Morrisey & Brown, Ld, of Sydney is 'a merchandising company that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's Income statements for the three most recent months Follow Morrisey Drew, itd. Income Statements for the Three Months Ended September 10 August September Sales in units 4,500 5,600 5,500 Sales 5.495,000 $ 550,00 $ 605,000 Cost of goods sold 297,00 330.000 263,000 Gross margin 198, 220,00 242,000 Selling and administrative expenses Advertising expense 30,660 30,600 30,600 Shipping expense 35,000 37,400 39,800 Salaries and commissions 50,000 36,200 92,400 Tnsurance expense 9,950 9,95 Depreciation expense 21.800 21,30 21,800 Total selling and administrative expenses 185,150 194,50 it operating income 5. 20,650 534,050 5 47.450 Required: 1 By analyzing the data from the company's income statements classity each of its expenses (including cost of goods sold as either variable fixed, or med 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fed portions of each mixed expense in the form ya DX 2 Redo the company's income statement at the 5,500-unit level of activity using the contribution format