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Category > Accounting Posted 19 Aug 2017 My Price 12.00

Speedway Motorsports, Inc.

Vertical analysis of income statement                                                               OBJ. 1

 

The following comparative income statement (in thousands of dollars) for the 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 revenue

$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 comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Round to one decimal place.

b.                             Comment on the significant changes.

 

 

Answers

Maurice Tutor
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Status NEW Posted 19 Aug 2017 10:08 PM My Price 12.00

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