Vertical Analysis of Income Statement 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 $219,840 $215,982 Event-related revenue 233,580 207,675 NASCAR broadcasting revenue 171,750 139,941 Other operating revenue 61,830 75,402 Total revenue $687,000 $639,000 Expenses and other: Direct expense of events $112,668 $109,908 NASCAR purse and sanction fees 123,660 108,630 Other direct expenses 177,246 155,916 General and administrative 94,119 85,626 Total expenses and other $507,693 $460,080 Income from continuing operations $179,307 $178,920 Hide 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 $ 219,840 % $ 215,982 % Event-related revenue 233,580 % 207,675 % NASCAR broadcasting revenue 171,750 % 139,941 % Other operating revenue 61,830 % 75,402 % Total revenue $ 687,000 % $ 639,000 % Expenses and other: Direct expense of events $ 112,668 % $ 109,908 % NASCAR purse and sanction fees 123,660 % 108,630 % Other direct expenses 177,246 % 155,916 % General and administrative 94,119 % 85,626 % Total expenses and other $ 507,693 % $ 460,080 % Income from continuing operations $ 179,307 % $ 178,920 % b. Overall revenue some between the two years. In addition, the overall mix of revenue sources changed somewhat. The NASCAR broadcasting revenue as a percent of total revenue by 3.1 percentage points, while the percent of admissions revenue to total revenue by almost 2%.