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 Calvin Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Revenues: Current Year Previous Year Admissions $93,575 $106,764 Event-related revenue 141,075 139,728 NASCAR broadcasting revenue 182,875 174,660 Other operating revenue 57,475 70,848 Total revenue $475,000 $492,000 Expenses and other: Direct expense of events $94,525 $98,892 NASCAR event management fees 114,950 127,920 Other direct operating expenses 19,950 24,108 General and administrative 190,950 208,116 Total expenses and other $420,375 $459,036 Income from continuing operations $54,625 $32,964