Business, 05.05.2020 05:11 byrdkellykellybyrd
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.
1
Current Year
Previous Year
2
Revenues:
3
Admissions
$116,034.00
$130,239.00
4
Event-related revenue
151,562.00
163,621.00
5
NASCAR broadcasting revenue
192,662.00
185,394.00
6
Other operating revenue
29,902.00
26,951.00
7
Total revenue
$490,160.00
$506,205.00
8
Expenses and other:
9
Direct expense of events
$101,402.00
$106,204.00
10
NASCAR purse and sanction fees
122,950.00
120,146.00
11
Other direct expenses
18,908.00
20,352.00
12
General and administrative
183,215.00
241,223.00
13
Total expenses and other
$426,475.00
$487,925.00
14
Income from continuing operations
$63,685.00
$18,280.00
A. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. Rounding instructions (Note: Due to rounding, amounts may not total 100%).
B. Comment on the significant changes.
Income Statement
Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. Rounding instructions (Note: Due to rounding, amounts may not total 100%).
Speedway Motorsports, Inc.
Comparative Income Statement (in thousands of dollars)
For the Years Ended December 31
1
Current Year
Current Year
Previous Year
Previous Year
2
Amount
Percent
Amount
Percent
3
Revenues:
4
Admissions
$116,034.00
$130,239.00
5
Event-related revenue
151,562.00
163,621.00
6
NASCAR broadcasting revenue
192,662.00
185,394.00
7
Other operating revenue
29,902.00
26,951.00
8
Total revenue
$490,160.00
100.0%
$506,205.00
100.0%
9
Expenses and other:
10
Direct expense of events
$101,402.00
$106,204.00
11
NASCAR purse and sanction fees
122,950.00
120,146.00
12
Other direct expenses
18,908.00
20,352.00
13
General and administrative
183,215.00
241,223.00
14
Total expenses and other
$426,475.00
$487,925.00
15
Income from continuing operations
$63,685.00
$18,280.00
Final Question
Comment on the significant changes.
While overall revenue some between the two years, the overall mix of revenue sources did change somewhat. The NASCAR broadcasting revenue as a percent of total revenue by almost 2.6 percentage points, while the percent of admissions revenue to total revenue by 2 percentage points. Overall, it appears that income from continuing operations has significantly improved because of
Answers: 1
Other questions on the subject: Business
Business, 22.06.2019 08:30, rajenkins79
Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.
Answers: 1
Business, 22.06.2019 12:10, mcguirefam7071p2mbzz
Drag each label to the correct location on the image determine which actions by a manager are critical interactions - listening to complaints - interacting with customers - responding to complaints - assigning staff duties -taking action to address customer grievances -keeping track of reservations
Answers: 2
Business, 22.06.2019 14:40, ZoomZoom44
You are purchasing a bond that currently sold for $985.63. it has the time-to-maturity of 10 years and a coupon rate of 6%, paid semi-annually. the bond can be called for $1,020 in 3 years. what is the yield to maturity of this bond?
Answers: 2
Business, 22.06.2019 15:30, graciemccain
On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.
Answers: 3
You know the right answer?
The following comparative income statement (in thousands of dollars) for the two recent fiscal years...
Questions in other subjects:
