Previous Year Current Year Revenues: Admissions $100,694 $100,798 Event-related revenue 146,980 146,849 NASCAR broadcasting revenue 217,469 207,369 Other operating revenue Total revenues 31,320 29,293 $496,463 $484,309 Expenses and other: Direct expense of events NASCAR event management fees Other direct operating expenses $104,303 $102,196 133,682 128,254 19,541 18,513 General and administrative 177,926 194,120 Total expenses and other Income from continuing operations $435,452 $443,083 $ 61,011 $ 41,226
Previous Year Current Year Revenues: Admissions $100,694 $100,798 Event-related revenue 146,980 146,849 NASCAR broadcasting revenue 217,469 207,369 Other operating revenue Total revenues 31,320 29,293 $496,463 $484,309 Expenses and other: Direct expense of events NASCAR event management fees Other direct operating expenses $104,303 $102,196 133,682 128,254 19,541 18,513 General and administrative 177,926 194,120 Total expenses and other Income from continuing operations $435,452 $443,083 $ 61,011 $ 41,226
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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.
Transcribed Image Text:Previous Year
Current Year
Revenues:
Admissions
$100,694
$100,798
Event-related revenue
146,980
146,849
NASCAR broadcasting revenue
217,469
207,369
Other operating revenue
Total revenues
31,320
29,293
$496,463
$484,309
Expenses and other:
Direct expense of events
NASCAR event management fees
Other direct operating expenses
$104,303
$102,196
133,682
128,254
19,541
18,513
General and administrative
177,926
194,120
Total expenses and other
Income from continuing operations
$435,452
$443,083
$ 61,011
$ 41,226
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
Expert Answers to Latest Homework Questions
Q: Need help with question?
Q: Need help with question?
Q: Need help with question?
Q: Help with question?
Q: What is one of the impacts of burnout?
Absenteeism
Complaining
Learned…
Q: What is one of the impacts of burnout?
Absenteeism
Complaining
Learned…
Q: What is the next step after identifying the function(s) of the behavior?
Collect data…
Q: What is one way to insure maintenance of a behavior plan?
Fade the schedule of reinforcement…
Q: When reducing a problem behavior, we want to make it ineffective, inefficient, and _____.…
Q: One factor that contributes to burnout is:
Ganging up on the boss
Poor physical…
Q: Problem: The probability density function of a random variable is given by the exponential…
Q: Hello,
Using the next webside, can you please help me to answer next question?
If practice as a…
Q: Armature reaction in an alternator primarily affects:
A: rotor speed
B: terminal voltage per…
Q: A3 φ, 50 Hz infinite bus bar is connected to two synchronous generators. Generator 1 has a speed of…
Q: A3 ϕ, 15 kV, 60 Hz, 30 MVA, Y-connected cylindrical-rotor synchronous machine generator has Ra =0.5…
Q: As the load of a 3-phase synchronous motor increases, the speed:
a: Decreases
b: Increases
c:…
Q: Please original work
Locate data warehousing solutions offered by IBM, Oracle, Microsoft, and Amazon…
Q: A fixed income hedge fund manager is considering three bonds about to
be issued by an automobile…
Q: The OU process studied in the previous problem is a common model for interest rates.
Another common…
Q: Please original work
Who owns a customer's information in United States and Europe? Who should…
Q: Biochemistry
Assuming 2.5 molecules of ATP per oxidation of NADH/(H+) and 1.5molecules of ATP per…