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Please, help with the incorrect ones below. The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from
Please, help with the incorrect ones below.
The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from the annual report of Calvin Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways.
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 Revenues: 31.2 $207,599 207,168 Admissions Event-related revenue 219,120 33.0 199,396 26.1 143,868 NASCAR broadcasting revenue 173,304 other operating revenue 64,408 9.7 80,137 100 s 631,000 Total revenue 664,000 Expenses and other: 23.5 s 101,591. 101,592 Direct expense of events 26.9 104,746 NASCAR purse and sanction fees 116,200 31.1 116,735 Other direct expenses 134,128 General and administrative 79,680 18.5 73,827 100 s 396,899 431,600 Total expenses and other 100 s 234,101 Income from continuing operations 232,400 Prior Year Percent 32.9 31.6 22.8 12.7 100 25.6 26.4 29.48 18.6Step by Step Solution
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