Good morning please only EX 14-2 thank you! 728Chapter 14 Financial Statement AnalysisEX 14-2 Vertical analysis of income statementThe following comparative income statement (in thousands of dollars) for two recent fiscal yearswas adapted from the annual report of Speedway Motorsports, Inc. (TRK), owner and opera-tor of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways.Obj. 2Va. Current fiscal yearincome from continuingoperations, 11.9% ofrevenuesCurrent YearPrevious YearRevenues:SHOAdmissions$ 90,639$ 100,694EXCEL TEMPLATEREAL WORLDEvent-related revenue136,900146,980NASCAR broadcasting revenue224,227217,469Other operating revenue60,39031,320Total revenues$ 512,156$ 496,463Expenses and other:Direct expense of eventsNASCAR event management feesOther direct expenses$ (102,786)$ (104,303)(137,727)(133,682)(19,541)(285,166)$ (542,692)$ (46,229)(43,784)General and administrative(166,663)Total expenses and otherIncome from continuing operations$ (450,960)$ 6 1,196a. Prepare a comparative income statement for these two years in vertical form, stating each itemas a percent of revenues. Round percentages to one decimal place.b.Comment on the significant changes.SHOObj. 2EX 14-3 Common-sized income statementVa. Tannenhill netRevenue and expense data for the current calendar year for Tannenhill Company and for the ryTlu oloctronics industry

Here in this question, we are required to prepare vertical analysis of income statement. Management…

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 opera- tor 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 $ 496,463 Total revenues $ 512,156 Expenses and other: Direct expense of events NASCAR event management fees $(102,786) $(104,303) (137,727) (133,682) Other direct expenses (43,784) (19,541) (285,166) $(542,692) $ (46,229) General and administrative (166,663) Total expenses and other Income from continuing operations $(450,960) $ 61,196 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.

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 opera- tor 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 $ 496,463 Total revenues $ 512,156 Expenses and other: Direct expense of events NASCAR event management fees $(102,786) $(104,303) (137,727) (133,682) Other direct expenses (43,784) (19,541) (285,166) $(542,692) $ (46,229) General and administrative (166,663) Total expenses and other Income from continuing operations $(450,960) $ 61,196 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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