Russell Preston delivers parts for several local auto parts stores. He charges clients 1.45 per mile driven. Russell has determined that if he drives 2,700 miles in a month, his average operating cost equation is: total cost $1,380.00 S0.53 per mile. $0.90 per mile. If he drives 3,700 miles in a month, his average operating cost is $0.80 per mile. Russell has used the high-low method to determine that his monthly cost Required: 1. Determine how many miles Russell needs drive to break even. Miles Break-Even Miles 2. Assume Russell drove 2,000 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month. Loss Profit Determine how many miles Russell must drive o earn $1,840.00 in profit. Target Miles Miles 4-a. Prepare a contribution margin income statement assuming Russell drove 2,000 miles last month. (Enter your answers rounded to 2 decimal places.) RUSSELL PRESTON Contribution Margin Income Statement For Last Month Contribution Margin Income from Operations 4-b. Use the above information to calculate Russell's degree of operating leverage. (Round your answer to the 2 decimal places.) Degree of Operating Leverage