Exercise 9-2

Exercise 9-2 - 100.0% $544,068 100.0% Expenses and other:...

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Exercise 9-2 Name: Section: Score: 100% Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer. a. SPEEDWAY MOTORSPORTS, INC. Comparative Income Statement (in thousands of dollars) Year 2 Year 1 Amount Percent Amount Percent Revenues: Admissions $175,208 30.9% $177,352 32.6% Event-related revenue 183,404 32.3% 168,359 30.9% NASCAR broadcasting revenue 162,715 28.7% 140,956 25.9% Other operating revenue 46,038 8.1% 57,401 10.6% Total revenue $567,365
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Unformatted text preview: 100.0% $544,068 100.0% Expenses and other: Direct expense of events $95,990 16.9% $97,042 17.8% NASCAR purse and sanction fees 105,826 18.7% 96,306 17.7% Other direct expenses 113,141 19.9% 102,535 18.8% General and administrative 78,070 13.8% 73,281 13.5% Total expenses and other $393,027 69.3% $369,164 67.8% Income from continuing operations $174,338 30.7% $174,904 32.1% b. The 1.5% increase in total expenses as a percentage of the total revenue resulted in a decrease in income from continuing operations. Instructions...
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This note was uploaded on 02/23/2012 for the course ACC 101 taught by Professor Jeff during the Spring '12 term at Lansing.

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