Solution-The following comparative income statement in

The following comparative income statement in thousands of

Assignment Help Finance Basics

Reference no: EM13574218

The following comparative income statement (in thousands of dollars) for the fiscal years 2008 and 2007 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.

	Fiscal Year 2008	Fiscal Year 2007
Revenues:
Admissions	$188,036	$179,765
Event-related revenue	211,630	197,321
NASCAR broadcasting revenue	168,159	142,517
Other operating revenue	43,168	42,030
Total revenue	$610,993	$561,633
Expenses and other:
Direct expense of events	$113,477	$100,414
NASCAR purse and sanction fees	118,766	100,608
Other direct expenses	116,376	163,222
General and administrative	84,029	80,913
Total expenses and other	$432,648	$445,157
Income from continuing operations	$178,345	$116,476

a. Prepare a comparative income statement for fiscal years 2007 and 2008 in vertical form, stating each item as a percent of revenues. Round to one decimal place.

b. Comment on the significant changes.

Reference no: EM13574218

Questions Cloud

Prepare a flexible budget for big bend co that shows a : the following inf big bend co. fixed budget for the year is shown belowsales 50000 units 1300000 cgs direct materials

The sampp 500 index is priced at 95046 the annualized : the sampp 500 index is priced at 950.46. the annualized dividend yield on the index is 1.40. what is the price of a

Rampr inc produces several models of clocks an outside : rampr inc. produces several models of clocks. an outside supplier has offered to produce the commercial clocks for

Deskins clothiers is a small company that manufactures : deskins clothiers is a small company that manufactures tall-menssuits. the company has used a standard cost system. in

The following comparative income statement in thousands of : the following comparative income statement in thousands of dollars for the fiscal years 2008 and 2007 was adapted from

Magic oaks realtys net revenue and net income for the : magic oaks realtys net revenue and net income for the following five-year period using 2010 as the base year

When you close your position the stock price is 2987 and : assume that you open a 300-share short position in xyz common stock at 30.19 with commission of 0.5. when you close

Golden inc issues 2600000 5-year 12 bonds at 104 with : 1.carter company earned net income of 350000 last year. this year it wants to earn net income of 450000. the companys

Use the following information to complete phillip and : required use the following information to complete phillip and claire dunphys 2011 federal income tax return. if

User Account

All Pages

The following comparative income statement in thousands of

Reference no: EM13574218

Reference no: EM13574218

Questions Cloud

Reviews

Write a Review

Finance Basics Questions & Answers

Financial reporting and analysis

A report on financial accounting

Describe the types of financial ratios

Differences between sole proprietorship and corporation

Prepare a cash budget statement

What are the implied interest rates

State pricing theory and no-arbitrage pricing theory

Small business administration

Effect of financial leverage

Evaluate the basis for the payment to the lender

Importance of opps, ipps, mpfs and dmepos

Time value of money

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT