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 a Atlanta, Texas, and Las Vegas Motor Speedways. Current Previous Year Year Revenues: Admissions $78,332 $86,949 Event-related revenue 140,210 133,632 NASCAR broadcasting 216,592 209,155 revenue Other operating 26,780 28,622 revenue Total revenues $461,914 $458,358 Expenses and other: Direct expense of $101,876 $98,973 events NASCAR event 123,212 119,101 management fees Other direct operating 18,502 18,782 expenses General and 164,949 177,132 administrative Total expenses and other $408,539 $413,988 Income from continuing operations $53,375 $44,370 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. Revenues: Admissions Event-related revenue NASCAR broadcasting revenue Other operating revenue Speedway Motorsports, Inc. Comparative Income Statement (in thousands of dollars) For the Years Ended December 31 Current Year Amount Current Year Percent 16.96 x % $78,332 140,210 30.35 x % Prior Year Amount Prior Year Percent $86,949 18.82 x % Total revenues Expenses and other: Direct expense of events NASCAR event management fees Other direct operating expenses General and administrative Total expenses and other Income from continuing operations 216,592 46.89 x% 26,780 5.80 % 133,632 29.15 x% 209,155 45.63 x % 28,622 6.24 x % $461,914 100.00 % $458,358 100.00 % $101,876 22.06 x % $98,973 21.59 x% 123,212 18,502 4.01 x % 164,949 35.71 x % $408,539 88.44 x % $53,375 11.60 % 26.67 x % 119,101 25.98 x % 18,782 4.10 % 177,132 38.64 x % $413,988 90.32 x % $44,370 9.68 x %