Morrisey \& Brown, Ltd., of Sydney, Australio, is a merchandising firm 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: (Note Morrisey \& Brown, Ltd's Australian-formatted income statement has been recast into the format common in Canada. The Australian doliar is denoted by AS.) Required: 1. Identify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixed 2-a. Using the high-low method, separate each mixed expense into variable and fixed elements. 2-b. Using the high-low mothod, state the cost formula for each mixed expense. 3. Redo the company's income statement at the 7,400-unit level of activity using the contribution format