The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from the annual report of Speedway 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 $139,125 vs.$163,087

Event-related revenue 156,691vs 178,805

NASCAR broadcasting revenue 178,722, vs. 173,803

Other operating revenue 27,705, vs 34,827

Total revenue $502,243, vs.$550,522

Expenses and other:

Direct expense of events $100,843 vs. $100,922

NASCAR purse and sanction fees 120,273 vs 123,078

Other direct expenses 21,846 vs 26,208

General and administrative 188,196, 266,252

Total expenses and other $431,158 vs $516,460

Income from continuing operations $ 71,085 vs $ 34,062

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.

b. Comment on the significant changes.