Homework Help is Here – Start Your Trial Now!
Business
Accounting
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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
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.

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
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
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Horizontal Analysis
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS

Expert Answers to Latest Homework Questions

Q: Get correct answer accounting questions
Q: A company is analyzing its break-even point for a product with a selling price of $63 per unit. The…
Q: Need help this question general accounting
Q: Kindly help me with accounting questions
Q: A company is analyzing its break-even point for a product with a selling price of $63 per unit. The…
Q: Can you please solve this accounting problem?
Q: I need to adapt a real-life system to this assignment. It doesn't need to be a very complicated…
Q: 3. A crest vertical curve joins a +3% and -4% grade. Design speed is 75 mph. Length = 2184.0 ft.…
Q: For each variable cost per unit listed below, determine the total variable cost when units produced…
Q: What is silverline's contribution margin ratio on these general accounting question?
Q: Provide correct answer general accounting
Q: I want to this question answer general Accounting
Q: CORRECT ANSWER ☑
Q: 10. All of the following are exclusions from gross income EXCEPT: A. Scholarships B. Gifts C.…
Q: Answer
Q: Hello tutor please provide this question solution general accounting
Q: CAn some one please find solution. general account.
Q: Need help
Q: Provide correct answer general Accounting
Q: Please provide answer this accounting question not use ai
Q: Expert of general account help me to solve...