Vertical Analysis of Income Statement

The following comparative income statement (in thousands ofdollars) for two recent fiscal years was adapted from the annualreport of Speedway Motorsports, Inc. (TRK), ownerand 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 statement forthese two years in vertical form, stating each item as a percent ofrevenues. (Note: Due to rounding, amounts may not total 100%).

Round your percentages to one decimal place.

Speedway Motorsports, Inc.
Comparative Income Statement (in thousands ofdollars)
For the Years Ended December 31
	Current Year Amount	Current Year Percent	Prior Year Amount	Prior Year Percent
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)