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 $100,170 $112,470 Event-related revenue 137,853 143,277 NASCAR broadcasting revenue 182,214 172,128 Other operating revenue 56,763 61,125 Total revenue $477,000 $489,000 Expenses and other: Direct expense of events $95,077 $95,844 NASCAR event management fees 120,204 123,228 Other direct operating expenses 25,758 24,450 General and administrative 177,921 223,962 Total expenses and other $419,760 $467,404 Income from continuing operations $57,240 $21,516