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 $109,340 $122,640 Event-related revenue 147,112 147,168 NASCAR broadcasting revenue 193,333 183,449 Other operating revenue 47,215 57,743 Total revenue $497,000 $511,000 Expenses and other: Direct expense of events $98,903 $103,222 NASCAR event management fees 126,238 127,239 Other direct operating expenses 21,371 16,863 General and administrative 193,333 237,615 Total expenses and other $439,845 $484,939 Income from continuing operations $57,155 $26,061