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		$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