The following comparative income statement (in thousands of dollars) for two recent years was adapted from the
Question:
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.
Transcribed Image Text:
Year 2 Year 1 Revenues: Admissions Event-related revenue NASCAR broadcasting revenue Other operating revenue Total revenue $163,087 178,805 173,803 34,827 $550,522 $188,036 211,630 168,159 43,168 610,993 Expenses and other: Direct expense of events NASCAR purse and sanction fees General and administrative Depreciation and amortization Other expenses Total expenses and other 100,922 123,078 84,250 52,654 155,556 $516,460 34,062 $113,477 118,766 84,029 48,146 68,230 $432,648 $178,345 Income from continuing operations before taxes
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a SPEEDWAY MOTORSPORTS INC Comparative Income Statement in thousands of dollars Year 2 Year 1 Revenues Admissions 163087 296 188036 308 Eventrelated r...View the full answer
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