The following comparative income statement (in thousands of dollars) for the fiscal years 2003 and 2004 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 fiscal years 2003 and 2004 in vertical form, stating each item as a percent of revenues. Round to one decimal place.
b. Comment on the significantchanges.

Fiscal Year 2004 Fiscal Year 2003 Revenues: Admissions Event-related revenue NASCAR broadcasting revenue Other operating revenue $156,718 137,074 110,016 42,711 $446,519 $150,253 127,055 90,682 36,539 $404,529 Total revenue Expenses and other Direct expense of events NASCAR purse and sanction fees Other direct expenses General and administrative S81,432 78,473 102,053 65,152 327,110 $119,409 77,962 69,691 101,408 58,698 307,759 96,770 Total expenses and other Income from continuing operations