veluc: 5.00 points PA6-2 Analyzing Break-Even Point, Setting Target Profit. Degree of Operating Leverage(LO 6-1, 6-2, 6-5] Russell Preston delivers parts for several local auto parts stores. He charges clients 1.20 per mile driven Russell has determined that if he drives 3,800 miles in a month, his average operating cost is $0.85 per mile. If he drives 5,800 miles in a month, his average operating cost is $0.75 per mile. Russell has used the high-low method to determine that his monthly cost equation is total cost $1,600.00+$0.56 per mile. Required: 1. Determine how many miles Russell needs to drive to break even. Miles 2. Assume Russell drove 3,000 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month. Profit O Loss 3. Determine how many miles Russell must drive to eam $2.00000 in profit Miles Miles 4-a. Prepare a contribution margin Iincome statement assuming Russell drove 3,000 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.) e of Operating