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Vertical Analysis of Income Statement The following comparative income statement (in thousands of dollars) for...

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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 Colvin Motorsports, Inc, owner and operator of several major motor speedways, such as the Attanta, Texas, and Las Vegas Motor Speedways. 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 numbers. Calvin Motorsports, Inc. Comparative Income Statement (in thousands of dollars) b. While overall revenue somewhat. The NASCAR broadcasting revenue While the percent of admissions revenue to total revenue 5some between the two vears, the overall mix of revenue sources did change. as a percent of total revenue by 3 percentage points. by 2 percentage points. Overall, it appears that inome from continuing operations has significantly improved because of

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