Russell Preston delivers parts for several local auto parts stores. He charges dlients $0.75 per mile driven. Russell has determined that if he drives 3,000 miles in a month, his average operating cost is $0.55 per mile. If he drives 4,000 miles in a month, his average operating cost is $0.50 per mile. Russell has used the high-low method to determine that his monthly cost equation is: total cost $600 $0.35 per mile. Required: 1. Determine how many miles Russell needs to drive to break even. en Mics Miles 2. Assume Russell drove 1,800 miles last month. Without making any additional calculations, determine whether he earned a proft or a loss last month Loss Proft 3. Determine how many miles Russell must drive to earn $1,000 in profit Target Mles Mies 3. Determine how many miles Russell must drive to earn $1,000 in profit Milos 4.a. Prepare a contribution margin income statement assuming Russell drove 1,800 miles last month RUSSELL PRESTON Contribution Margin Income Statement For Last Month Contribution Margin Income from Operations 4.b. Use the above information to calcu caiculete Russel's degree of operating leverage gree of Operating