Perform ratio analysis to the financial statements
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Perform ratio analysis to the financial statements
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- a Current fiscal year income from continuing operations, 11,9% of revenues 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 Motors ports, Inc. (TRK), owner and operator 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 Total revenues 512,156 496,463 Expenses and other: Direct expense of events (102,786) (104,303) NASCAR event management fees (137,727) (133,682) Other direct expenses (43,764) (19,541) General and administrative (166,663) (288,166) Total expenses and other (450,960) (542392) Income from continuing operations 61,196 (46,229) 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 changesVertical 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. Current Year Previous Year Revenues: Admissions $78,332 $86,949 Event-related revenue 140,210 133,632 NASCAR broadcasting revenue 216,592 209,155 Other operating revenue 26,780 28,622 Total revenues $461,914 $458,358 Expenses and other: Direct expense of events $101,876 $98,973 NASCAR event management fees 123,212 119,101 Other direct operating expenses 18,502 18,782 General and administrative 164,949 177,132 Total expenses and other $408,539 $413,988 Income from continuing operations $53,375 $44,370 a. Prepare a…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. Current Year Previous Year Revenues: Admissions $78,332 $86,949 Event-related revenue 140,210 133,632 NASCAR broadcasting revenue 216,592 209,155 Other operating revenue 26,780 28,622 Total revenues $461,914 $458,358 Expenses and other: Direct expense of events $101,876 $98,973 NASCAR event management fees 123,212 119,101 Other direct operating expenses 18,502 18,782 General and administrative 164,949 177,132 Total expenses and other $408,539 $413,988 Income from continuing operations $53,375 $44,370 a. Prepare a…
- 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. Current Year Previous Year Revenues: Admissions $78,332 $86,949 Event-related revenue 140,210 133,632 NASCAR broadcasting revenue 216,592 209,155 Other operating revenue 26,780 28,622 Total revenues $461,914 $458,358 Expenses and other: Direct expense of events $101,876 $98,973 NASCAR event management fees 123,212 119,101 Other direct operating expenses 18,502 18,782 General and administrative 164,949 177,132 Total expenses and other $408,539 $413,988 Income from continuing operations $53,375 $44,370 Prepare a…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. Current Year Previous Year Revenues: Admissions $78,332 $86,949 Event-related revenue 140,210 133,632 NASCAR broadcasting revenue 216,592 209,155 Other operating revenue 26,780 28,622 Total revenues $461,914 $458,358 Expenses and other: Direct expense of events $101,876 $98,973 NASCAR event management fees 123,212 119,101 Other direct operating expenses 18,502 18,782 General and administrative 164,949 177,132 Total expenses and other $408,539 $413,988 Income from continuing operations $53,375 $44,370 Question…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. Current Year Previous Year Revenues: Admissions $116,034 $130,239 Event-related revenue 151,562 163,621 NASCAR broadcasting revenue 192,662 185,394 Other operating revenue 29,902 26,951 Total revenues $490,160 $506,205 Expenses and other: Direct expense of events $101,402 $106,204 NASCAR purse and sanction fees 122,950 120,146 Other direct expenses 18,908 20,352 General and administrative 183,215 241,223 Total expenses and other $426,475 $487,925 Income from continuing operations $63,685 $18,280 a. Prepare a…
- 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. Current Year Previous Year Revenues: Admissions $100,694 $100,798 Event-related revenue 146,980 146,849 NASCAR broadcasting revenue 217,469 207,369 Other operating revenue 31,320 29,293 Total revenues $496,463 $484,309 Expenses and other: Direct expense of events $104,303 $102,196 NASCAR event management fees 133,682 128,254 Other direct expenses 19,541 18,513 General and administrative 177,926 194,120 Total expenses and other $435,452 $443,083 Income from continuing operations $61,011 $41,226 a. Prepare a…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. Current Year Previous Year Revenues: Admissions $100,694 $100,798 Event-related revenue 146,980 146,849 NASCAR broadcasting revenue 217,469 207,369 Other operating revenue 31,320 29,293 Total revenues $496,463 $484,309 Expenses and other: Direct expense of events $104,303 $102,196 NASCAR event management fees 133,682 128,254 Other direct expenses 19,541 18,513 General and administrative 177,926 194,120 Total expenses and other $435,452 $443,083 Income from continuing operations $61,011 $41,226 a. Prepare a…Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from the annual report of Calvin Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions $112,050 $125,195 Event-related revenue 139,938 149,212 NASCAR broadcasting revenue 185,754 175,273 Other operating revenue 60,258 61,320 Total revenue $498,000 $511,000 Expenses and other: Direct expense of events $102,588 $100,667 NASCAR purse and sanction fees 128,484 132,860 Other direct expenses 28,884 30,149 General and administrative 184,758 217,686 Total expenses and other $444,714 $481,362 Income from continuing operations $53,286 $29,638 a. Prepare a…
- 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. (TRK), owner and operator 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 Total revenues $512,156 $496,463 Expenses and other: Direct expense of events $(102,786) $(104,303) NASCAR event management fees (137,727) (133,682) Other direct expenses (43,784) (19,541) General and administrative (166,663) (285,166) Total expenses and other $(450,960) $(542,692) Income from continuing operations $61,196 $(46,229)…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 Calvin Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions $103,806 $116,632 Event-related revenue 144,570 141,520 NASCAR broadcasting revenue 171,114 161,528 Other operating revenue 54,510 68,320 Total revenue $474,000 $488,000 Expenses and other: Direct expense of events $96,696 $101,992 NASCAR event management fees 113,760 117,120 Other direct operating expenses 22,752 25,864 General and administrative 192,444 221,064 Total expenses and other $425,652 $466,040 Income from continuing operations $48,348 $21,960Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from the annual report of Calvin Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions $107,627 $121,464 Event-related revenue 131,490 154,728 NASCAR broadcasting revenue 185,060 176,400 Other operating revenue 62,823 51,408 Total revenue $487,000 $504,000 Expenses and other: Direct expense of events $102,270 $97,776 NASCAR purse and sanction fees 123,211 120,960 Other direct expenses 26,785 15,624 General and administrative 177,755 240,912 Total expenses and other $430,021 $475,272 Income from continuing operations $56,979 $28,728 a. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Round to one decimal place. Enter all amounts as positive…