The following comparative income statement (in thousands of dollars) for the fiscal years 2005 and 2006 was adapted from the annual report of Speedway Motorsports, 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 2005 and 2006 in vertical form, stating each item as a percent of revenues. Round to one decimal place.(b) Comment on the significantchanges.

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Fiscal Year 2006 Fiscal Year 2005 Revenues: $175,208 183,404 162,715 46,038 $567,365 $177,352 168,359 140,956 57,401 $544,068 Admissions Event-related revenue NASCAR broadcasting revenue Other operating revenue Total revenue Expenses and other: Direct expense of events NASCAR purse and sanction fees Other direct expenses $ 95,990 105,826 113,141 78,070 $393,027 $174,338 $ 97,042 96,306 102,535 73,281 $369, 164 $174,904 General and administrative Total expenses and other Income from continuing operations