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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 $96,136 $109,585
Event-related revenue 134,200 138,370
NASCAR broadcasting revenue 184,952 176,245
Other operating revenue 72,712 80,800
Total revenue $488,000 $505,000
Expenses and other:
Direct expense of events $93,208 $103,020
NASCAR purse and sanction fees 120,048 123,220
Other direct expenses 21,960 22,220
General and administrative 198,616 227,250
Total expenses and other $433,832 $475,710
Income from continuing operations $54,168 $29,290

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 $96,136 fill in the blank da346e033063004_1% $109,585 fill in the blank da346e033063004_2%
Event-related revenue 134,200 fill in the blank da346e033063004_3% 138,370 fill in the blank da346e033063004_4%
NASCAR broadcasting revenue 184,952 fill in the blank da346e033063004_5% 176,245 fill in the blank da346e033063004_6%
Other operating revenue 72,712 fill in the blank da346e033063004_7% 80,800 fill in the blank da346e033063004_8%
Total revenue $488,000 fill in the blank da346e033063004_9% $505,000 fill in the blank da346e033063004_10%
Expenses and other:
Direct expense of events $93,208 fill in the blank da346e033063004_11% $103,020 fill in the blank da346e033063004_12%
NASCAR purse and sanction fees 120,048 fill in the blank da346e033063004_13% 123,220 fill in the blank da346e033063004_14%
Other direct expenses 21,960 fill in the blank da346e033063004_15% 22,220 fill in the blank da346e033063004_16%
General and administrative 198,616 fill in the blank da346e033063004_17% 227,250 fill in the blank da346e033063004_18%
Total expenses and other $433,832 fill in the blank da346e033063004_19% $475,710 fill in the blank da346e033063004_20%
Income from continuing operations $54,168 fill in the blank da346e033063004_21% $29,290 fill in the blank da346e033063004_22%

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