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 $98,973 123,212 119,101 NASCAR event management fees 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 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 % $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 % 119,101 % 123,212 18,502 Other direct operating expenses % 18,782 % 164,949 General and administrative % 177,132 % Total expenses and other $408,539 % $413,988 % Income from continuing operations $53,375 % $44,370 % b. Overall revenue some between the two years, accompanied by a slight change in the overall mix of revenue sources. The NASCAR broadcasting revenue by 1.2% of total revenue. NASCAR event management fees, by 0.7% of total revenue. General and administrative expenses, however, has helped the company significantly improve its income from continuing operations. by 1.3% of total revenue, while event-related by over 2.9% of total revenue. It revenue appears that