Problem 5A-7 (Algo) Cost Behavior; High-Low Method; Contribution Format Income Statement [LO5-10] Morrisey \& Brown, Limited, is the sole distributor of a product with growing sales. Its income statements for the three most recent months follow: Required: 1. By analyzing 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 7,250-unit level of activity using the contribution format. Complete this question by entering your answers in the tabs below. 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. Note: Round the Variable cost per unit to 2 decimal places. Complete this question by entering your answers in the tabs below. Redo the company's income statement at the 7,250-unit level of activity using the contribution format. Note: Round your intermediate calculations to 1 decimal place