Smith & Chief Ltd$.$ of Sydney, Australia, 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 four most recent quarters follow:

SMITH & CHIEF LTD$.$

Income Statements

For the Four Quarters Ending December $31$

Net income

$($Note: Smith & Chief Ltd$.\text{'}$s Australian$-$formatted income statement has been recast into the format common in Canada. The Australiz

dollar is denoted by $A$$$.)$

Required:

Identify each of the company's expenses $($including cost of goods sold$)$ as being variable, fixed, or mixed.