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. Current Year Previous Year Revenues: Admissions $108,066 $121,818 Event-related revenue 141,930 158,826 NASCAR broadcasting revenue 194,220 185,040 Other operating revenue 53,784 48,316 Total revenue $498,000 $514,000 Expenses and other: Direct expense of events $98,604 $101,258 NASCAR event management fees 128,982 130,556 Other direct operating expenses 17,928 29,812 General and administrative 194,718 217,936 Total expenses and other $440,232 $479,562 Income from continuing operations $57,768 $34,438 Question Content Area a. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Round to one decimal place. Enter all amounts as positive numbers. Calvin 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 $108,066 fill in the blank 5b3f3d029ff2047_1 % $121,818 fill in the blank 5b3f3d029ff2047_2 % Event-related revenue 141,930 fill in the blank 5b3f3d029ff2047_3 % 158,826 fill in the blank 5b3f3d029ff2047_4 % NASCAR broadcasting revenue 194,220 fill in the blank 5b3f3d029ff2047_5 % 185,040 fill in the blank 5b3f3d029ff2047_6 % Other operating revenue 53,784 fill in the blank 5b3f3d029ff2047_7 % 48,316 fill in the blank 5b3f3d029ff2047_8 % Total revenue $498,000 fill in the blank 5b3f3d029ff2047_9 % $514,000 fill in the blank 5b3f3d029ff2047_10 % Expenses and other: Direct expense of events $98,604 fill in the blank 5b3f3d029ff2047_11 % $101,258 fill in the blank 5b3f3d029ff2047_12 % NASCAR event management fees 128,982 fill in the blank 5b3f3d029ff2047_13 % 130,556 fill in the blank 5b3f3d029ff2047_14 % Other direct operating expenses 17,928 fill in the blank 5b3f3d029ff2047_15 % 29,812 fill in the blank 5b3f3d029ff2047_16 % General and administrative 194,718 fill in the blank 5b3f3d029ff2047_17 % 217,936 fill in the blank 5b3f3d029ff2047_18 % Total expenses and other $440,232 fill in the blank 5b3f3d029ff2047_19 % $479,562 fill in the blank 5b3f3d029ff2047_20 % Income from continuing operations $57,768 fill in the blank 5b3f3d029ff2047_21 % $34,438 fill in the blank 5b3f3d029ff2047_22 % Feedback Area Feedback