Chapter 14: Financial Statement Analysis REAL WORLD EX 14-2 Vertical analysis of income statement inov Obj. 2 A. Current fiscal year The following comparative income statement (in thousands of dollars) for two recent fiscal years 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 Event-related revenue 151,562 163,621 NASCAR broadcasting revenue 192,662 185,394 Other operating revenue 29,902 26,951 Total revenues en bonne $490,160 $506,205 33 Expenses and other: Bottes antide della Direct expense of events bordel $ 101,402 $106,204 NASCAR purse and sanction feesteg bruslupa 122,950 120,146 Other direct expenses 18,908 20,352 General and administrative 183,215 241,223 onlara leylana anak Total expenses and other $426,475 $487,925 de Income from continuing operations to $ 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.) Comment on the significant changes. HO B