Question 1

Question 2

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. Current Year Previous Year 2 Revenues Admissions 4 Event-related revenue 5 NASCAR broadcasting revenue Other operating revenue 7 Total revenue 8 Expenses and other 9 Direct expense of events 1D NASCAR event management fees $100,694.00 $100,798.00 146980.00 46349.00 207,369.00 29,293.00 $496,463.00 $484,309.00 146,980.00 31,32000 $104,303.00 $102,196.00 133,68200 128,254.00