Vertical Analysis of Income Statement

The following comparative income statement (in thousands of dollars) for the 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			$219,480			$215,166
	Event-related revenue			236,472			210,560
	NASCAR broadcasting revenue			195,408			163,184
	Other operating revenue			56,640			69,090
		Total revenue		$708,000			$658,000
Expenses and other:
	Direct expense of events			$106,908			$104,622
	NASCAR purse and sanction fees			119,652			105,280
	Other direct expenses			192,576			163,184
	General and administrative			84,960			76,986
		Total expenses and other		$504,096			$450,072
Income from continuing operations				$203,904			$207,928