Question
a. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as
a. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. (Note: Due to rounding, amounts may not total 100%).
Round your percentages to one decimal place.
b. Overall revenue
increaseddecreased
some between the two years, accompanied by a slight change in the overall mix of revenue sources. The NASCAR broadcasting revenue
increaseddecreased
by 1.3% of total revenue, while event-related revenue
increaseddecreased
by 1.2% of total revenue. NASCAR event management fees,
increaseddecreased
by 0.7% of total revenue. General and administrative expenses, however,
increaseddecreased
by over 2.9% of total revenue. It appears that
aggressive cost cuttinga large increase in total revenue
has helped the company significantly improve its income from continuing operations.
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