Kelly, Inc. Annual Income Statements For the Fiscal Years 2005 to 2007

	Dec-07	Dec-06	Dec-05
Total Revenue	521,696	543,855	383,648
Cost of Revenue	260,280	281,243	227,290
Gross Profit	261,416	262,612	156,358
Research Development	81,842	73,974	64,025
Selling General and Administrative	65,112	69,507	51,657
Net Operating Income	114,462	119,131	40,676
Other Income/Expenses Net	22,099	25,526	12,048
Earnings Before Interest And Taxes	136,561	144,657	52,724
Interest Expense	6,709	5,965	6,936
Income Before Tax	129,852	138,692	45,788
Income Tax Expense	44,413	46,137	262
Minority Interest	2,923	3,093	1,026
Net Income	88,362	95,648	46,552
Assumed S,G&A Expense Breakdown
Variable	70%
Fixed	30%
Calculate and graph the DOL, DFL and DCL for each of the three years.
Leverage Measures
Degree of Operating Leverage
Degree of Financial Leverage
Degree of Combined Leverage