Vertical of 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. Previous Year Current Year Revenues Admissions $224,895 $225,790 239,700 217,750 Event-related revenue 149,460 NASCAR broadcasting revenue 113,230 113,230 other operating revenue 90,945 Total revenue $705,000 $670,000 Expenses and other: $119,850 $119,930 Direct expense of events NASCAR purse and sanction fees 133,950 120,600 Other direct expenses 145,935 121,270 General and administrative 96,585 89,780 $451,580 Total expenses and other $496,320 $208,680 Income from continuing operations $218,420