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			$413,988
Income from continuing operations				$53,375			$44,370

Question Content Area

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.

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	fill in the blank 68154602d032005_1%	$86,949	fill in the blank 68154602d032005_2%
Event-related revenue	140,210	fill in the blank 68154602d032005_3%	133,632	fill in the blank 68154602d032005_4%
NASCAR broadcasting revenue	216,592	fill in the blank 68154602d032005_5%	209,155	fill in the blank 68154602d032005_6%
Other operating revenue	26,780	fill in the blank 68154602d032005_7%	28,622	fill in the blank 68154602d032005_8%
Total revenues	$461,914	fill in the blank 68154602d032005_9%	$458,358	fill in the blank 68154602d032005_10%
Expenses and other:
Direct expense of events	$101,876	fill in the blank 68154602d032005_11%	$98,973	fill in the blank 68154602d032005_12%
NASCAR event management fees	123,212	fill in the blank 68154602d032005_13%	119,101	fill in the blank 68154602d032005_14%
Other direct operating expenses	18,502	fill in the blank 68154602d032005_15%	18,782	fill in the blank 68154602d032005_16%
General and administrative	164,949	fill in the blank 68154602d032005_17%	177,132	fill in the blank 68154602d032005_18%
Total expenses and other	$408,539	fill in the blank 68154602d032005_19%	$413,988	fill in the blank 68154602d032005_20%
Income from continuing operations	$53,375	fill in the blank 68154602d032005_21%	$44,370	fill in the blank 68154602d032005_22%