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Vertical Analysis of Income Statement

The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report of Speedway Motorsports, Inc. (TRK), owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways.

				Current Year			Previous Year
Revenues:
	Admissions			$90,639			$100,694
	Event-related revenue			136,900			146,980
	NASCAR broadcasting revenue			224,227			217,469
	Other operating revenue			60,390			31,320
		Total revenues		$512,156			$496,463
Expenses and other:
	Direct expense of events			$(102,786)			$(104,303)
	NASCAR event management fees			(137,727)			(133,682)
	Other direct expenses			(43,784)			(19,541)
	General and administrative			(166,663)			(285,166)
		Total expenses and other		$(450,960)			$(542,692)
Income from continuing operations				$61,196			$(46,229)

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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. (Note: Due to rounding, amounts may not total 100%).

Round your percentages to one decimal place.

Speedway 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	$90,639	fill in the blank 51270bf5afa3ffb_1%	$100,694	fill in the blank 51270bf5afa3ffb_2%
Event-related revenue	136,900	fill in the blank 51270bf5afa3ffb_3%	146,980	fill in the blank 51270bf5afa3ffb_4%
NASCAR broadcasting revenue	224,227	fill in the blank 51270bf5afa3ffb_5%	217,469	fill in the blank 51270bf5afa3ffb_6%
Other operating revenue	60,390	fill in the blank 51270bf5afa3ffb_7%	31,320	fill in the blank 51270bf5afa3ffb_8%
Total revenues	$512,156	fill in the blank 51270bf5afa3ffb_9%	$496,463	fill in the blank 51270bf5afa3ffb_10%
Expenses and other:
Direct expense of events	$(102,786)	fill in the blank 51270bf5afa3ffb_11	$(104,303)	fill in the blank 51270bf5afa3ffb_12
NASCAR event management fees	(137,727)	fill in the blank 51270bf5afa3ffb_13	(133,682)	fill in the blank 51270bf5afa3ffb_14
Other direct expenses	(43,784)	fill in the blank 51270bf5afa3ffb_15	(19,541)	fill in the blank 51270bf5afa3ffb_16
General and administrative	(166,663)	fill in the blank 51270bf5afa3ffb_17	(285,166)	fill in the blank 51270bf5afa3ffb_18
Total expenses and other	$(450,960)	fill in the blank 51270bf5afa3ffb_19	$(542,692)	fill in the blank 51270bf5afa3ffb_20
Income from continuing operations	$61,196	fill in the blank 51270bf5afa3ffb_21%	$(46,229)	fill in the blank 51270bf5afa3ffb_22