Perform ratio analysis to the financial statements
Corporate Financial Accounting
15th Edition
ISBN:9781337398169
Author:Carl Warren, Jeff Jones
Publisher:Carl Warren, Jeff Jones
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 14.2EX: a Current fiscal year income from continuing operations, 11,9% of revenues Vertical analysis of...
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Perform ratio analysis to the financial statements
![EX 17-2 Vertical analysis of income statement
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.
Previous Year
Revenues:
Admissions
Event-related revenue
NASCAR broadcasting revenue
Other operating revenue
Total revenues
Expenses and other:
Direct expense of events
NASCAR event management fees
Other direct operating expenses
General and administrative
Total expenses and other
Income from continuing operations
Current Year
$100,694
146,980
217,469
31,320
$496,463
$104,303
133,682
19,541
177,926
$435,452
$ 61,011
$100,798
146,849
207,369
29,293
$484,309
$102,196
128,254
18,513
194,120
$443,083
$ 41,226](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1f2fac05-bac4-4133-acae-5b97f965cfbb%2Fd430fc71-7d5f-4e0a-940d-a407409510fe%2Fplc2s1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:EX 17-2 Vertical analysis of income statement
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.
Previous Year
Revenues:
Admissions
Event-related revenue
NASCAR broadcasting revenue
Other operating revenue
Total revenues
Expenses and other:
Direct expense of events
NASCAR event management fees
Other direct operating expenses
General and administrative
Total expenses and other
Income from continuing operations
Current Year
$100,694
146,980
217,469
31,320
$496,463
$104,303
133,682
19,541
177,926
$435,452
$ 61,011
$100,798
146,849
207,369
29,293
$484,309
$102,196
128,254
18,513
194,120
$443,083
$ 41,226
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