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 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			$116,034			$130,239
	Event-related revenue			151,562			163,621
	NASCAR broadcasting revenue			192,662			185,394
	Other operating revenue			29,902			26,951
		Total revenue		$490,160			$506,205
Expenses and other:
	Direct expense of events			$101,402			$106,204
	NASCAR purse and sanction fees			122,950			120,146
	Other direct expenses			18,908			20,352
	General and administrative			183,215			241,223
		Total expenses and other		$426,475			$487,925
Income from continuing operations				$63,685			$18,280

a. Prepare a vertical analysis of a comparative income statement, stating each item for both years as a percent of total revenue. Round to one decimal place. Enter all amounts as positive numbers. (Note: Due to rounding, amounts may not total 100%).

Speedway Motorsports, Inc.
Comparative Income Statement (in thousands of dollars)
For the Years Ended December 31, 20
	Current Year Amount	Current Year Percent	Prior Year Amount	Prior Year Percent
Revenues:
Admissions	$116,034	%	$130,239	%
Event-related revenue	151,562	%	163,621	%
NASCAR broadcasting revenue	192,662	%	185,394	%
Other operating revenue	29,902	%	26,951	%
Total revenue	$490,160	%	$506,205	%
Expenses and other:
Direct expense of events	$101,402	%	$106,204	%
NASCAR purse and sanction fees	122,950	%	120,146	%
Other direct expenses	18,908	%	20,352	%
General and administrative	183,215	%	241,223	%
Total expenses and other	$426,475	%	$487,925	%
Income from continuing operations	$63,685	%	$18,280	%