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
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