The following comparative income statement (in thousands of dollars) for the two recent fiscal 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 these two years 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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Current Year Prevlous Year Revenues: Admissions Event-related revenue NASCAR broadcasting revenue Other operating revenue 116,034 51,562 192,662 29,902 490,160 130,239 163,621 185,394 26,951 $506 205 Total revenue Expenses and other: Direct expense of events NASCAR purse and sanction fees Other direct expenses General and administrative 101,402 122,950 18,908 183 215 426,475 63,685 106,204 120,146 20,352 241,223 $487,925 18,280 Total expenses and other Incomefrom continuing operations