=+Direct expense of events $ 95,990 $ 97,042 NASCAR purse and sanction fees 105,826 96,306 Other direct

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=+Direct expense of events $ 95,990 $ 97,042 NASCAR purse and sanction fees 105,826 96,306 Other direct expenses 113,141 102,535 General and administrative 78,070 73,281 _________ _________ Total expenses and other $393,027 $369,164 _________ _________ Income from continuing operations $174,338 $174,904 _________ _________ _________ _________

a. Prepare a comparative income statement for fiscal years 2005 and 2006 in vertical form, stating each item as a percent of revenues. Round to one decimal place.

b. Comment on the significant changes.

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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