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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 60
Vertical analysis of income statement
The following comparative income statement (inthousands of dollars) for 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.
A. Perpare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. (Round percentages to one decimal place.)
B. Comment on the significant changes.
The following comparative income statement (inthousands of dollars) for 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.
A. Perpare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. (Round percentages to one decimal place.)
B. Comment on the significant changes.
Explanation
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Vertical analysis:
Vertical analysis is...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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