need help!! The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from the annual report of Calvin Motorsports, Inc., owner and operator of several major motorspeedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways.Current YearPrevious YearRevenues:Admissions$93,798$106,926Event-related revenue145,800153,612NASCAR broadcasting revenue181,764172,688Other operating revenue64,63868,774Total revenue$486,000$502,000Expenses and other:Direct expense of events$95,256$98,392NASCAR purse and sanction fees118,584120,982Other direct expenses25,27223,594General and administrative195,372236,442Total expenses and other$434,484$479,410Income from continuing operations$51,516$22,590a. 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. Calvin Motorsports, Inc.Comparative Income Statement (in thousands of dollars)For the Years Ended December 31Current Year Amount Current Year PercentPrior Year Amount Prior Year PercentRevenues:Admissions$93,798$106,926%Event-related revenue145,800%153,612%NASCAR broadcasting revenue181,764%172,688%Other operating revenue64,638%68,774%Total revenue$486,000%$502,000%Expenses and other:Direct expense of events$95,256$98,392%NASCAR purse and sanction fees118,584120,982%Other direct expenses25,272%23,594%General and administrative195,372%236,442%Total expenses and other$434,484%$479,410%Income from continuing operations$51,516%$22,590%b. While overall revenuesome between the two years, the overall mix of revenue sources did change somewhat. The NASCAR broadcasting revenueas a percent of totalrevenue by 3 percentage points, while the percent of admissions revenue to total revenueby 2 percentage points. Overall, it appears that income from continuing operations has significantlyimproved because of

Vertical Analysis of Comparative Income Statement The purpose preparing the vertical Analysis of the…

The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from the annual report of Calvin Motorsports, Inc., owner and operator of several major moto speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions $93,798 $106,926 Event-related revenue 145,800 153,612 NASCAR broadcasting revenue 181,764 172,688 Other operating revenue 64,638 68,774 Total revenue $486,000 $502,000 Expenses and other: Direct expense of events $95,256 $98,392 NASCAR purse and sanction fees 118,584 120,982 Other direct expenses 25,272 23,594 General and administrative 195,372 236,442 Total expenses and other $434,484 $479,410 Income from continuing operations $51,516 $22,590 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 the two recent fiscal years was adapted from the annual report of Calvin Motorsports, Inc., owner and operator of several major moto speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions $93,798 $106,926 Event-related revenue 145,800 153,612 NASCAR broadcasting revenue 181,764 172,688 Other operating revenue 64,638 68,774 Total revenue $486,000 $502,000 Expenses and other: Direct expense of events $95,256 $98,392 NASCAR purse and sanction fees 118,584 120,982 Other direct expenses 25,272 23,594 General and administrative 195,372 236,442 Total expenses and other $434,484 $479,410 Income from continuing operations $51,516 $22,590 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.

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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The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report of Speedway Motorsports, Inc. (TRK), owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions $90,639 $100,694 Event-related revenue 136,900 146,980 NASCAR broadcasting revenue 224,227 217,469 Other operating revenue 60,390 31,320 Total revenues $512,156 $496,463 Expenses and other: Direct expense of events $(102,786) $(104,303) NASCAR event management fees (137,727) (133,682) Other direct expenses (43,784) (19,541) General and administrative (166,663) (285,166) Total expenses and other $(450,960) $(542,692) Income from continuing operations $61,196 $(46,229) a. Prepare a comparative income…
The following comparative income statement (in thousands of dollars) for two recent fiscal 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. Current Year Previous Year Revenues: Admissions $100,694 $100,798 Event-related revenue 146,980 146,849 NASCAR broadcasting revenue 217,469 207,369 Other operating revenue 31,320 29,293 Total revenues $496,463 $484,309 Expenses and other: Direct expense of events $104,303 $102,196 NASCAR event management fees 133,682 128,254 Other direct expenses 19,541 18,513 General and administrative 177,926 194,120 Total expenses and other $435,452 $443,083 Income from continuing operations $61,011 $41,226 a. Prepare a comparative income statement for these two…
The following comparative income statement (in thousands of dollars) for two recent fiscal 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. Current Year Previous Year Revenues: Admissions $78,332 $86,949 Event-related revenue 140,210 133,632 NASCAR broadcasting revenue 216,592 209,155 Other operating revenue 26,780 28,622 Total revenues $461,914 $458,358 Expenses and other: Direct expense of events $101,876 $98,973 NASCAR event management fees 123,212 119,101 Other direct operating expenses 18,502 18,782 General and administrative 164,949 177,132 Total expenses and other $408,539 $413,988 Income from continuing operations $53,375 $44,370 a. Prepare a comparative income statement for these…
The following comparative income statement (in thousands of dollars) for the two recent fiscal 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. 1 Current Year Previous Year 2 Revenues: 3 Admissions $116,034.00 $130,239.00 4 Event-related revenue 151,562.00 163,621.00 5 NASCAR broadcasting revenue 192,662.00 185,394.00 6 Other operating revenue 29,902.00 26,951.00 7 Total revenue $490,160.00 $506,205.00 8 Expenses and other: 9 Direct expense of events $101,402.00 $106,204.00 10 NASCAR purse and sanction fees 122,950.00 120,146.00 11 Other direct expenses 18,908.00 20,352.00 12 General and administrative 183,215.00 241,223.00 13 Total expenses and other $426,475.00 $487,925.00 14 Income from continuing…
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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 Speedway Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Please see the attachment for details: a. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Round percentages to one decimal place.b. Comment on the significant changes.
Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for two recent years was adapted from the annual report of Speedway Motorsports, Inc. (TRK), owner and operator of several major motor speedways, such as the Atlanta, Bristol, Charlotte, Texas, and Las Vegas Motor Speedways. Year 2 Year 1 Revenues: Admissions $100,798 $106,050 Event-related revenue 146,849 145,749 NASCAR broadcasting revenue 207,369 199,014 Other operating revenue 29,293 29,836 Total revenue $484,309 $480,649 Expenses and other: Direct expense of events $(102,196) $(99,500) NASCAR purse and sanction fees (128,254) (125,003) Other direct expenses (18,513) (18,640) General and administrative (194,120) (286,069) Total expenses $(443,083) $(529,212) Income (loss) from continuing operations $ 41,226 $ 48,563…
Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for two recent years was adapted from the annual report of Speedway Motorsports, Inc. (TRK), owner and operator of several major motor speedways, such as the Atlanta, Bristol, Charlotte, Texas, and Las Vegas Motor Speedways. Year 2 Year 1 Revenues: Admissions $181,764 $179,975 Event-related revenue 192,780 173,075 NASCAR broadcasting revenue 199,512 175,375 Other operating revenue 37,944 46,575 Total revenue $612,000 $575,000 Expenses and other: Direct expense of events $102,816 $101,200 NASCAR purse and sanction fees 115,668 102,925 Other direct expenses 125,460 112,125 General and administrative 86,292 79,350 Total expenses $430,236 $395,600 Income (loss) from continuing operations $181,764 $179,400 Note: "General…