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 $111,776 $126,148 Event-related revenue 151,696 151,998 NASCAR broadcasting revenue 174,650 165,440 Other operating revenue 60,878 73,414 Total revenue $499,000 $517,000 Expenses and other: Direct expense of events $98,802 $103,400 NASCAR event management fees 124,750 134,420 Other direct operating expenses 28,942 25,333 General and administrative 196,107 219,725 Total expenses and other $448,601 $482,878 Income from continuing operations $50,399 $34,122 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 $111,776 % % $126,148 Event-related revenue 151,696 % % 151,998 % 174,650 165,440 % NASCAR broadcasting revenue % 60,878 73,414 % Other operating revenue % $499,000 $517,000 % Total revenue Expenses and other: % $98,802 $103,400 % Direct expense of events % 124,750 134,420 % NASCAR event management fees % 28,942 % 25,333 Other direct operating expenses % 196,107 219,725 % General and administrative $448,601 % $482,878 % Total expenses and other % $34,122 % $50,399 Income from continuing operations