Instructions The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report of Motor Speedways Inc., owner and operator of several major motor speedways. Current Year Previous Year 2 Reyenues. Admissions $104,312.00 $116,644.00 Event-related revenue 142,544.00 151.164.00 NASCAR broadcasting revenue 180,304.00 170,368 00 Other operating revenue 44,340.00 65,824.00 17 Total revenues $472.000.00 $484.000 00 Expenses and other: Direct expense of events $91.568.00 $101.640.00 10 NASCAR event management fees 118,000.00 117612.00 11 Other direct operating expenses 19,352.00 20,328.00 Check My Work 3 more Check My Work uses remaining. Previous Ne 2. Instructions Income Statement Final Question Instructions 6. Other operating revenue 44,840.00 65,824.00 Total revenues $472,000.00 $484,000.00 8 Expenses and other: 9. Direct expense of events $91,568.00 $101,640.00 NASCAR event management fees 118,000.00 117,612.00 10 Other direct operating expenses 19,352.00 20,328.00 11 12 General and administrative 195,880.00 220,220.00 Total expenses and other $424,800.00 $459,800.00 13 14 Income from continuing operations $47,200.00 $24,200.00 A. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. Percentage sign will appear automatically. Rounding instructions B. Comment on the significant changes. Previous Check My Work 3 more Check My Work uses remaining.
Instructions The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report of Motor Speedways Inc., owner and operator of several major motor speedways. Current Year Previous Year 2 Reyenues. Admissions $104,312.00 $116,644.00 Event-related revenue 142,544.00 151.164.00 NASCAR broadcasting revenue 180,304.00 170,368 00 Other operating revenue 44,340.00 65,824.00 17 Total revenues $472.000.00 $484.000 00 Expenses and other: Direct expense of events $91.568.00 $101.640.00 10 NASCAR event management fees 118,000.00 117612.00 11 Other direct operating expenses 19,352.00 20,328.00 Check My Work 3 more Check My Work uses remaining. Previous Ne 2. Instructions Income Statement Final Question Instructions 6. Other operating revenue 44,840.00 65,824.00 Total revenues $472,000.00 $484,000.00 8 Expenses and other: 9. Direct expense of events $91,568.00 $101,640.00 NASCAR event management fees 118,000.00 117,612.00 10 Other direct operating expenses 19,352.00 20,328.00 11 12 General and administrative 195,880.00 220,220.00 Total expenses and other $424,800.00 $459,800.00 13 14 Income from continuing operations $47,200.00 $24,200.00 A. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. Percentage sign will appear automatically. Rounding instructions B. Comment on the significant changes. Previous Check My Work 3 more Check My Work uses remaining.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 2E: The following comparative income statement (in thousands of dollars) for two recent fiscal years was...
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