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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 $109,616 $122,428
Event-related revenue 137,392 144,780
NASCAR broadcasting revenue 187,488 176,784
Other operating revenue 61,504 64,008
Total revenue $496,000 $508,000
Expenses and other:
Direct expense of events $102,176 $97,028
NASCAR purse and sanction fees 125,488 125,984
Other direct expenses 14,880 18,288
General and administrative 193,440 243,332
Total expenses and other $435,984 $484,632
Income from continuing operations $60,016 $23,368

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.

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