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Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for two recent years was adapted from the annual report of

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Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for two recent years was adapted from the annual report of Speedway Motorsports, Inc. (TRK), owner and operator of several major motor speedways, such as the Atlanta, Bristol, Charlotte, Texas, and Lasi Vegas Motor Speed ways. Year 2 Year 1 Revenues: Admissions $158,070 $156,600 Event-related revenue 164,776 148,050 NASCAR broadcasting revenue 92,926 67,500 Other operating revenue 63,228 77,850 Total revenue $479,000 $450,000 Expenses and other: $79,514 Direct expense of events $78,300 89,573 79,650 NASCAR purse and sanction fees 115,918 105,300 Other direct expenses 60,750 66.102 tudmialstatlun. Expenses and other: Direct expense of events $79,514 $78,300 NASCAR purse and sanction fees 89,573 79,650 Other direct expenses 115,918 105,300 General and administrative 66,102 60,750 Total expenses $351,107 $324,000 Income (loss) from continuing operations $127,893 $126,000 Note: "General & administrative expenses for the year 1 includes impairment of goodwill of $33,051 a. Prepare a comparative income statement for Years 1 and 2 in vertical form, stating each item as a percent of revenues. Rond percentages to one decimal place. Enter all amounts as positive numbers. Speedway Motorsports, Inc Comparative Income Statement (in thousands of dollars) For the Years Ended December 31, Year 2 and Year 1 Year 1 Amount Year 1 Percent Year 2 Amount Year 2 Percent Revenues: $158,070 $156,600 Admissions 164,776 148,050 Event-related revenue a. Prepare a comparative income statement for Years 1 and 2 in vertical form, stating each item as a percent of revenues. Round percentages to one decimal place. Enter all amounts as positive numbers. Speedway Motorsports, Inc Comparative Income Statement (in thousands of dollars) For the Years Ended December 31, Year 2 and Year 1 Year 2 Amount Year 2 Percent Year 1 Amount Year 1 Percent ues: Admissions $158,070 $156,600 Event-related revenue 164,776 148,050 NASCAR broadcasting revenue 92,926 67,500 Other operating revenue 63,228 77,850 Total revenue $479,000 $450,000 Expenses and other: Direct expense of events $79,514 $78,300 89,573 NADOR purse and sanction fees 79,650 Other direct expenses 115,918 105,300 66,102 60,750 General and administrative $351,107 $324,000 Total expenses $127,893 $126,000 Oneratina income (leel

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