The following comparative income statement (in thousands of dollars) for two recent years was adapted from the
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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 Las Vegas Motor Speedways.
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a. Prepare a comparative income statement for Years 1 and 2 in vertical form, stating each item as a percent of revenues. Round to one decimal place.
b. Comment on the significant changes.
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