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Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report
Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for 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 Event-related revenue NASCAR broadcasting revenue Other operating revenue $116,034 151,562 192,662 29,902 $490,160 $130,239 163,621 185,394 26,951 $506,205 Total revenues Expenses and other Direct expense of events NASCAR purse and sanction fees Other direct expenses General and administrative $101,402 122,950 18,908 183,215 $426,475 $63,685 $106,204 120,146 20,352 241,223 $487,925 $18,280 Total expenses and other Income from continuing operations 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. (Note: Due to rounding, amounts may not total 100%) Round your percentages to one decimal place
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