Abreviated Income Statement
$thousands, except EPS
		31-Dec-20	31-Dec-19
Total Revenue		1,743,641	781,963
Cost of Goods Sold		431,725	278,433
Gross Profit		1,311,916	503,530
Operating Expenses		68,470	52,402
Operating Income		1,243,446	451,128
Interest & Taxes		453,190	293,537
Net Income		790,256	157,591
EPS, 50,000,000 shares outstanding		15.81	3.15
(Round all answers to two decimals, i.e. 12.00)
a) Calculate the degree of operating leverage (DOL). Blank 1
b) Calculate the degree of financial leverage (DFL). Blank 2
c) Calculate the degree of combined leverage (DCL). Blank 3

What do the degree of operating leverage (DOL, degree of financial leverage (DFL), and degree of combined leverage (DCL) You obtained in the previous question mean? Explain fully using your results.