The following comparative income statement (in thousands of dollars) for the fiscal years 2008 and 2007 was
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The following comparative income statement (in thousands of dollars) for the fiscal years 2008 and 2007 was adapted from the annual report of Speedway Motor sports, Inc., owner and operator of several major motor speedways, such as the Atlanta, .Texas, and Las Vegas Motor Speedways.
a. Prepare a comparative income statement for fiscal years 2007 and 2008 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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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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