Chapter 14: Financial Statement Analysis EX 14-2 Vertical analysis of income statement A. Current fiscal year The following comparative income statement in thousands of dollars) for two recent fiscal years Obj. 2 income from continuing was adapted from the annual report of Speedway Motorsports, Inc., owner and operator operations, 13.0% of of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways, revenues Current Year Previous Year Revenues: Admissions $116,034 $130.239 EXCEL TEMPLATE REAL WORLD Event-related revenue 151,562 163,621 NASCAR broadcasting revenue 192,662 185,394 Other operating revenue 29,902 26,951 Total revenues $490.160 $506,205 Expenses and other Direct expense of events $101,402 $106,204 NASCAR purse and sanction fees 122.950 120,146 Other direct expenses 18,908 20,352 General and administrative 183,215 241,223 Total expenses and other $426,475 5487,925 Income from continuing operations $ 63,685 $ 18,280 A. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. (Round percentages to one decimal place.) B. Comment on the significant changes