The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted...

 

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The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report of Calvin Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions Event-related revenue NASCAR broadcasting revenue Other operating revenue Total revenue Expenses and other: Direct expense of events NASCAR event management fees Other direct operating expenses General and administrative Total expenses and other Income from continuing operations $93,258 130,938 175,683 71,121 $471,000 $96,555 114,924 20,724 183,690 $415,893 $55,107 $106,602 133,008 167,727 81,663 $489,000 $96,333 119,316 18,582 229,341 $463,572 $25,428 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. Enter all amounts as positive numbers. The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report of Calvin Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions Event-related revenue NASCAR broadcasting revenue Other operating revenue Total revenue Expenses and other: Direct expense of events NASCAR event management fees Other direct operating expenses General and administrative Total expenses and other Income from continuing operations $93,258 130,938 175,683 71,121 $471,000 $96,555 114,924 20,724 183,690 $415,893 $55,107 $106,602 133,008 167,727 81,663 $489,000 $96,333 119,316 18,582 229,341 $463,572 $25,428 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. Enter all amounts as positive numbers.

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Current Year Admissions 93258 471000 100 198 Eventrelated revenue 130938 471000 100 278 NASCAR broad... View the full answer