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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.,

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.

Current Year Previous Year
Revenues:
Admissions $210,738 $211,248
Event-related revenue 222,332 202,176
NASCAR broadcasting revenue 196,416 169,128
Other operating revenue 52,514 65,448
Total revenue $682,000 $648,000
Expenses and other:
Direct expense of events $107,756 $107,568
NASCAR purse and sanction fees 119,350 107,568
Other direct expenses 174,592 154,224
General and administrative 88,660 82,296
Total expenses and other $490,358 $451,656
Income from continuing operations $191,642 $196,344

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

$ 210,738

%

$ 211,248

%

Event-related revenue

222,332

%

202,176

%

NASCAR broadcasting revenue

196,416

%

169,128

%

Other operating revenue

52,514

%

65,448

%

Total revenue

$ 682,000

%

$ 648,000

%

Expenses and other:

Direct expense of events

$ 107,756

%

$ 107,568

%

NASCAR purse and sanction fees

119,350

%

107,568

%

Other direct expenses

174,592

%

154,224

%

General and administrative

88,660

%

82,296

%

Total expenses and other

$ 490,358

%

$ 451,656

%

Income from continuing operations

$ 191,642

%

$ 196,344

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