Boston Celtics Limited Partnership II and Subsidiaries presented these consolidated statements of income for 1998, 1997, and 1996.

Required
a. Comment on Amortization of NBA Franchise and Other Intangible Assets.
b. Would the discontinued operations be included in projecting the future? Comment.
c. The costs and expenses include team costs and expenses. Speculate on the major reason for the increase in this expense between 1996 and 1997.
d. What were the major reasons for the increase in income from continuing operations between 1997 and 1998?
e. Speculate on why distributions declared were higher in 1998 than 1996.

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BOSTON CELTICS LIMITED PARTNERSHIP Ⅱ AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME For the Year Ended June 30 1997 une une 1998 1996 Revenues: Basketball regular season S39,107,960 31,813,09 S35,249,625 28,002,469 23,269,59 22,071,992 7458,651 64,780,268 Ticket sales Television and radio broadcast rights fees Other, principally promotional ad vertising 7915.626 8.569.485 2004 62,997.804 75,679,914 Costs and expenses: Basketball regular season Team Game General and administrative Selling and promotional Depreciation Amortization of NBA franchise and other 40,401,643 40,941,156 27,891,264 2,386,042 13,464,566 3,913,893 15,053,333 4,680,168 189,324 2,820,107 2,606,218 4,819,478 208,162 2,973,488 140,894 164,703 722,519 5,950,368 8,175, 184 intangible assets 164,702 61,878,991 13,800,923 Interest expen se Interest income Net realized gains (losses) on disposition of marketable (6,017,737) 5,872,805 6,387,598) 6,609,541 6,402,366 urities and other short-term investments (18,235) 36051 101.138) sec Income fiom continuing operations before income taxes Provision for income taxes Income fiom continuing operations Discontinued operations: Income from discontinued operations (less applicable income 14,167,317 1,900,000 12,267,317 1,820,306 17,636,816 1400,000 1853640 420,30615,786,816 82,806 taxes of S30,000) Gain from disposal of discontinued operations (less applicable income taxes of $17,770,000) NET INCOME Net income applicable to interests of General Partners Net income applicable to interests of Limited Partners Per unit: 38,330,907 420,306 54,200,529 12,267,317 306,216 $11,961,101 S 358,060 $52,909.515 Income from continuing operations basic Income from continuing operations diluted Net income basic Net income diluted 2.45 S 2.17 S 2.45 S 2.17 S 2.00 S 2.68 2.59 0.06 S 0.07 S 0.06 S 1.00 S 8.89 1.50 Distributions dec lared