The following items may or may not appear on a personal cash-flow statement. Check "Cash In" or "Cash Out" accordingly if the item would appear on a personal cash-flow statement. If neither applies, leave both checkboxes empty. Cash In Cash Out National Merit scholarship O Monthly mortgage payment Clothing purchases O Federal tax refund Interest on municipal bond Quarterly insurance 0 Company-paid business entertainment School supplies O OO Savings account interest Expenses are categorized as fixed or variable depending on their nature. Categorize each of the following expenses as fixed or variable. Fixed Expenses Variable Expenses Monthly mortgage payment Clothing purchases 0 0 0 0 Quarterly insurance 0 School supplies