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 $140,210133,632$

NASCAR broadcasting revenue $216,592209,155$

Other operating revenue $26,78028,622$

Total revenues $$461,914$ $$458,358$

Expenses and other:

Direct expense of events $$101,876$ $$98,973$

NASCAR event management fees $123,212119,101$

Other direct operating expenses $18,50218,782$

General and administrative $164,949177,132$

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 $68040$dfccfa$2027\_1$

$17$

$\%$ $$86,949$ fill in the blank $68040$dfccfa$2027\_2$

$19$

$\%$

Event$-$related revenue $140,210$ fill in the blank $68040$dfccfa$2027\_3$

$30$

$\%133,632$ fill in the blank $68040$dfccfa$2027\_4$

$\%$

NASCAR broadcasting revenue $216,592$ fill in the blank $68040$dfccfa$2027\_5$

$\%209,155$ fill in the blank $68040$dfccfa$2027\_6$

$\%$

Other operating revenue $26,780$ fill in the blank $68040$dfccfa$2027\_7$

$\%28,622$ fill in the blank $68040$dfccfa$2027\_8$

$\%$

Total revenues $$461,914$ fill in the blank $68040$dfccfa$2027\_9$

$100$

$\%$ $$458,358$ fill in the blank $68040$dfccfa$2027\_10$

$100$

$\%$

Expenses and other:

Direct expense of events $$101,876$ fill in the blank $68040$dfccfa$2027\_11$

$\%$ $$98,973$ fill in the blank $68040$dfccfa$2027\_12$

$\%$

NASCAR event management fees $123,212$ fill in the blank $68040$dfccfa$2027\_13$

$\%119,101$ fill in the blank $68040$dfccfa$2027\_14$

$26$

$\%$

Other direct operating expenses $18,502$ fill in the blank $68040$dfccfa$2027\_15$

$4$

$\%18,782$ fill in the blank $68040$dfccfa$2027\_16$

$\%$

General and administrative $164,949$ fill in the blank $68040$dfccfa$2027\_17$

$\%177,132$ fill in the blank $68040$dfccfa$2027\_18$

$\%$

Total expenses and other $$408,539$ fill in the blank $68040$dfccfa$2027\_19$

$\%$ $$413,988$ fill in the blank $68040$dfccfa$2027\_20$

$\%$

Income from continuing operations $$53,375$ fill in the blank $68040$dfccfa$2027\_21$

$\%$ $$44,370$ fill in the blank $68040$dfccfa$2027\_22$

$\%$