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 $78,332 $86,949 Event-related revenue 140,210 133,632 NASCAR broadcasting revenue 216,592 209,155 Other operating revenue 26,780 28,622 Total revenues $461,914 $458,358 Expenses and other: Direct expense of events $101,876 $98,973 NASCAR event management fees 123,212 119,101 Other direct operating expenses 18,502 18,782 General and administrative 164,949 177,132 Total expenses and other $408,539 Income from continuing operations $53,375 $413,988 $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. Round your percentages to one decimal place. Speedway 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 $78,332 % $86,949 % Event-related revenue 140,210 % 133,632 % NASCAR broadcasting revenue 216,592 % 209,155 % Other operating revenue 26,780 % 28,622 % Total revenues $461,914 % $458,358 % Expenses and other: Direct expense of events $101,876 % $98,973 % NASCAR event management fees 123,212 % 119,101 % Other direct operating expenses 18,502 % 18,782 % General and administrative 164,949 % 177,132 % Total expenses and other $408,539 % $413,988 % Income from continuing operations $53,375 % $44,370 % Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Y1 Assets Current assets: Cash $1,050,000 $ 950,000 Marketable securities 301,000 420,000 Accounts receivable (net) 585,000 500,000 Inventories 420,000 380,000 Prepaid expenses 108,000 20,000 Total current assets $2,464,000 $2,270,000 Long-term investments 800,000 800,000 Property, plant, and equipment (net) 5,760,000 5,184,000 Total assets $9,024,000 $8,254,000 Liabilities Current liabilities $880,000 $800,000 Long-term liabilities: Mortgage note payable, 6% $200,000 $0 Bonds payable, 4% 3,000,000 $3,000,000 Total long-term liabilities $3,200,000 $3,000,000 Total liabilities $4,080,000 $3,800,000 Liabilities Current liabilities $880,000 $800,000 Long-term liabilities: Mortgage note payable, 6% $200,000 $0 Bonds payable, 4% 3,000,000 $3,000,000 Total long-term liabilities $3,200,000 $3,000,000 Total liabilities $4,080,000 $3,800,000 Stockholders' Equity Preferred 4% stock, $5 par $250,000 $250,000 Common stock, $5 par 500,000 500,000 Retained earnings 4,194,000 3,704,000 Total stockholders' equity $4,944,000 $4,454,000 Total liabilities and stockholders' equity $9,024,000 $8,254,000 7. Number of days' sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders' equity 10. Times interest earned days 11. Asset turnover 12. Return on total assets 13. Return on stockholders' equity 14. Return on common stockholders' equity % % %