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3 Morisey & Brown, Ltd, of Sydney is a merchandising company that is the sole distributor of a product that is incresing Australian consumers. The company's income statements for the three most recent months folow among Horrisey &Brown,Ltd. Income Statements For the Three Months Ended September 30 uly 7,000 7,500 8, 000 Sales in units 8ook sales $735, 000 $787,500$840,000 472,500 504, 000 336,000 Cost of goods sold Gross margin Selling and administrative 4 2,000 10 Print 36, 400 75,000 36,400 79,400 Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense 36,400 83,800 134,400 8,400 120,000 127,200 8,400 8,400 Total selling and administrative expenses Net operating income 22,800 22,800 800 262,600 274,200 285,800 S 31,400 40,800 50,200 Required: 1. By analyzing the data from the company's income statements, classity each of its expenses (including cost of goods sold) as either variable, fixed, or mixed 2. Using the high-low method, separate each mised expense into variable and fixed elements. Express the variable and fixed portions of each mited expense in the form ra Complete this question by entering your answers in the tabs below Required Required 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. Cost of goods sold Salaries and Required 2 >

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