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Current Year Previous Year Revenues: Admissions $142,780 $143,060 Event-related revenue 155,364 141,220 NASCAR broadcasting revenue 149,072 130,180 Other operating revenue 36,784 45,540 Total revenue $484,000

Current Year Previous Year
Revenues:
Admissions $142,780 $143,060
Event-related revenue 155,364 141,220
NASCAR broadcasting revenue 149,072 130,180
Other operating revenue 36,784 45,540
Total revenue $484,000 $460,000
Expenses and other:
Direct expense of events $76,472 $76,360
NASCAR purse and sanction fees 84,216 75,900
Other direct expenses 119,064 103,960
General and administrative 61,468 57,040
Total expenses and other $341,220 $313,260
Income from continuing operations $142,780 $146,740

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a. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Round to one decimal place. Enter all amounts as positive numbers.

Calvin Motorsports, Inc.

Comparative Income Statement (in thousands of dollars)

For the Years Ended December 31

Current Year Amount

Current Year Percent

Prior Year Amount

Prior Year Percent

Revenues:

Admissions

$ 142,780

%

$ 143,060

%

Event-related revenue

155,364

%

141,220

%

NASCAR broadcasting revenue

149,072

%

130,180

%

Other operating revenue

36,784

%

45,540

%

Total revenue

$ 484,000

%

$ 460,000

%

Expenses and other:

Direct expense of events

$ 76,472

%

$ 76,360

%

NASCAR purse and sanction fees

84,216

%

75,900

%

Other direct expenses

119,064

%

103,960

%

General and administrative

61,468

%

57,040

%

Total expenses and other

$ 341,220

%

$ 313,260

%

Income from continuing operations

$ 142,780

%

$ 146,740

%

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