Vertical Analysis of Income Statement

The following comparative income statement (in thousands of dollars) for two recent years was adapted from the annual report of Speedway Motorsports, Inc. (TRK), owner and operator of several major motor speedways, such as the Atlanta, Bristol, Charlotte, Texas, and Las Vegas Motor Speedways.

Revenues: Admissions \begin{tabular}{ll} Year 2 & Year 1 \\ \hline \end{tabular} Event-related revenue \begin{tabular}{rr} $100,798 & $106,050 \\ 146,849 & 145,749 \\ 207,369 & 199,014 \\ 29,293 & 29,836 \\ \hline$484,309 & $480,649 \\ \hline \end{tabular} Expenses and other: Direct expense of events $(102,196)$(99,500) NASCAR purse and sanction fees (128,254)(125,003) Other direct expenses (18,513)(18,640) General and administrative Total expenses Income (loss) from continuing operations Note: "General \& administrative expenses for the year 1 includes impairment of goodwill of $89,037. a. Prepare a comparative income statement for Years 1 and 2 in vertical form, stating each item as a percent of revenues. Round percentage answers to one decimal place