The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from the annual report of Motor Speedways Inc., owner and operator of several major motor speedways.

1		Current Year	Previous Year
2	Revenues:
3	Admissions	$93,991.00	$106,074.00
4	Event-related revenue	142,204.00	134,460.00
5	NASCAR broadcasting revenue	189,930.00	179,280.00
6	Other operating revenue	60,875.00	78,186.00
7	Total revenue	$487,000.00	$498,000.00
8	Expenses and other:
9	Direct expense of events	$96,913.00	$100,098.00
10	NASCAR purse and sanction fees	121,263.00	123,006.00
11	Other direct expenses	17,045.00	25,398.00
12	General and administrative	193,339.00	229,578.00
13	Total expenses and other	$428,560.00	$478,080.00
14	Income from continuing operations	$58,440.00	$19,920.00

A.

Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. Rounding instructions

B.

Comment on the significant changes.

Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. Rounding instructions

Motor Speedways Inc.

Comparative Income Statement (in thousands of dollars)

For the Years Ended December 31

1		Current Year	Current Year	Previous Year	Previous Year
2		Amount	Percent	Amount	Percent
3	Revenues:
4	Admissions	$93,991.00		$106,074.00
5	Event-related revenue	142,204.00		134,460.00
6	NASCAR broadcasting revenue	189,930.00		179,280.00
7	Other operating revenue	60,875.00		78,186.00
8	Total revenue	$487,000.00	100.0%	$498,000.00	100.0%
9	Expenses and other:
10	Direct expense of events	$96,913.00		$100,098.00
11	NASCAR purse and sanction fees	121,263.00		123,006.00
12	Other direct expenses	17,045.00		25,398.00
13	General and administrative	193,339.00		229,578.00
14	Total expenses and other	$428,560.00		$478,080.00
15	Income from continuing operations	$58,440.00		$19,920.00