The following comparative income statement (in thousands of dollars) for two recent years was adapted from the
Question:
The following comparative income statement (in thousands of dollars) for two recent years 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 Years 1 and 2 in vertical form, stating each item as a percent of revenues. Round to one decimal place.
b. Comment on the significantchanges.
Transcribed Image Text:
Year 2 Year 1 Admissions Event-related revenue NASCAR broadcasting revenue Other operating revenue Total revenue $130,239 163,621 185,394 26,591 $505,845 139,125 156,691 178,722 27,705 502,243 Expenses and other: Direct expense of events NASCAR purse and sanction fees General and administrative Depreciation and amortization Other expenses Total expenses and other $106,204 120,146 89,384 54,004 118,187 $487,925 17,920 100,843 120,273 85,717 52,762 71,563 431,158 71,085 Income from continuing operations before taxes
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 30% (13 reviews)
a SPEEDWAY MOTORSPORTS INC Comparative Income Statement in thousands of dollars Year 2 Year 1 Amo...View the full answer
Answered By
Aqib Parvej
I am teaching since my graduation time so I have teaching experience of about 5 years and in these years I learn to teach in the best and interesting way .
4.80+
20+ Reviews
41+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Following are selected financial data in thousands of dollars for the Hunter Corporation. a. Diagram the expanded Du Pont system for Hunter for 2012. b. Use the Du Pont system to calculate the return...
-
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...
-
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),...
-
47GP: Chapter: CH0 CH1 CH2 CH3 CH4 CH5 CH6 CH7 CH8 CH9 CH10 CH11 CH12 CH13 CH14 CH15 CH16 CH17 CH18 CH19 CH20 CH21 CH22 CH23 CH24 CH25 CH26 CH27 CH28 CH29 CH30 Problem: 1CQ 1MCP 1P 2CQ 2MCP 2P 3CQ...
-
Ford Motor Company (Ford) needs to acquire computer equipment from IBM as of January 1, Year 4. Ford can borrow the necessary funds to purchase the computer for $10,000,000. Ford, however, desires to...
-
You are the vice president of Worldwide InfoXchange, headquartered in Minneapolis, Minnesota. All shareholders of the firm live in the United States. Earlier this month, you obtained a loan of 10...
-
There are about \(10^{11}\) stars in the Galaxy with mass comparable to the Sun. Determine total mass \(M_{S}\) in the stars and the fraction of the Galaxy mass in the form of interstellar medium...
-
John and Joe Brower worked for a large construction company but set up their own company, Crest Ridge. They were awarded a subcontract on a job to provide wall panels. They wanted to use panels made...
-
4.Indicate, by clicking on the relevant boxes, whether the following statements are true or false in relation to business valuation. The earnings yield method and the dividend growth model should...
-
Allie has bought a new apple orchard. The orchard has a single file of trees, numbered from 1 to N. Each tree has a certail number of ripe apples. Allie has a rule she wants to follow. She wants to...
-
Boston Scientific Corporation is a competitor of Kips Bay Medical (FA 5-3). It was organized in 1979 and also develops, produces, and sells medical devices. The following data (in thousands) were...
-
Revenue and expense data for the current calendar year for Garrity Electronics Company and for the electronics industry are as follows. The Garrity Electronics Company data are expressed in dollars....
-
Rollo's Roller Rink is located in a town where everyone is identical. Rollo's is subject to crowding and becomes less pleasant when it is crowded. True or False: If Rollo is a monopolist, he will...
-
Describe two ways health communicators can integrate methods with established communication channels.
-
ABC Corporation, a growing tech company, decides to raise capital by issuing convertible debt securities. Convertible debt allows bondholders the option to convert their debt into a predetermined...
-
You have been working as a Tax Consultant at a Tax Consulting Firm for the past several years and are well known for being an expert when it comes to complex dividend and Amas itsion tanactions , You...
-
Trade shows have usually been classified as sales promotions. The text makes the case that trade shows are excellent publicity and public relations tools. Which is it: Are trade shows sales promotion...
-
Janet is trying to implement a workplace policy and is seeking your support. First, she convinces you to sign a petition in favor of the policy change. Later she asks you to present to the board of...
-
A battery relies on the oxidation of magnesium and the reduction of Cu 2+ . The initial concentrations of Mg 2+ and Cu 2+ are 1.0 * 10 -4 M and 1.5 M, respectively, in 1.0-liter half-cells. a. What...
-
The following information is available for Partin Company: Sales $598,000 Sales Returns and Allowances 20,000 Cost of Goods Sold 398,000 Selling Expense 69,000 Administrative Expense 25,000 Interest...
-
You and your management team are working to develop the strategic direction of your company for the next three years. One issue you are discussing is how to finance the projected increases in...
-
Why should the responsibility for maintaining the accounting records be separated from the responsibility for operations? Explain.
-
Why should the responsibility for maintaining the accounting records be separated from the responsibility for operations? Explain.
-
Assume that Yvonne Dauphin, accounts payable clerk for Bedell Inc., stole $73,250 by paying fictitious invoices for goods that were never received. The clerk set up accounts in the names of the...
-
Jet Airways borrowed $1,000,000 for one year to improve its liquidity. Jet Airways paid back the principal and interest of $1,060,000 at the end of the year. What is the dollar amount of interest and...
-
if the cost of attending the university is $40,000 per year due at the beginning instead of the end of each year for four years, how much do you have to deposit in a lump sum to be able to pay for...
-
Financial Analysis Case This case can be assigned as a group activity. Additional instructions and material for this activity can be found on the Instructor Resource site and in WileyPLUS. Kenmare...
Study smarter with the SolutionInn App