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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text: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.
Transcribed Image Text: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.
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