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.

Year 2 Year 1 Revenues: Admissions $175,208 $177,352 168,359 Event-related revenue 183,404 NASCAR broadcasting revenue Other operating revenue 162,715 140,956 46,038 57,401 Total revenue $567,365 $544,068 Expenses and other: Direct expense of events NASCAR purse and sanction fees Other direct expenses General and administrative $ 95,990 105,826 $ 97,042 96,306 113,141 102,535 78,070 73,281 Total expenses and other Income from continuing operations $393,027 $174,338 $369,164 $174,904