Morrisey & Brown, Limited, 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: Sales in units Sales Cost of goods sold Gross margin Morrisey & Brown, Limited Income Statements For the Three Months Ended September 30 Selling and administrative expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Total selling and administrative expenses Net operating income Required: July 4,750 August 5,250 September 5,750 $ 546,250 327,750 $ 603,750 $ 661,250 362,250 218,500 241,500 396,750 264,500 31,800 31,800 31,800 35,500 38,100 40,700 81,000 87,300 93,600 6,550 6,550 18,000 18,000 181,750 $ 45,650 $ 59,750 $ 73,850 172,850 6,550 18,000 190,650 . By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Y = a + bx. 3. Redo the company's income statement at the 5,750-unit level of activity using the contribution format. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Classification Required 1 Required 2 Required 3 Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of ea the form Y = a + bx. (Round the Variable cost per unit to 1 decimal place.) Variable Cost Fixed Cost per unit Y = per unit |Y= Formula X Required 1 Required 2 Required 3 Redo the company's income statement at the 5,750-unit level of activity using the contribution format. Variable expenses: Morrisey & Brown, Limited Income Statement For the Month Ended September 30 Fixed expenses