Income from continuing operations is $61,011 $41,226
Current Year Previous Year
Revenues:
Admissions 20.28≅ 20.3 20.81 ≅20.8
Event-related revenue 29.61 ≅ 29.6 30.32≅30.3
NASCAR broadcasting revenue 43.80≅ 43.8 42.82≅42.8
Other operating revenue 6.31 ≅ 6.3 6.05≅6.1
Total revenues 100% 100%
Expenses and other:
Direct expense of events 21.01 ≅ 21.0 21.10≅ 21.1
NASCAR event management fees 29.61≅ 29.6 26.48≅ 26.5
Other direct expenses 3.94 ≅ 3.9 3.82≅3.8
General and administrative 35.84 ≅ 35.8 40.08≅40.1
Total expenses and other 87.72 ≅ 87.7 91.49≅ 91.5
Income from continuing operations 12.23% 8.51%
Vertical Analysis =(Income Statement Item/ Sales )*100
We prepared a comparative income statement for these two years in vertical form, stating each item as a percent of revenues.
Current Year Previous Year
Revenues:
Admissions $100,694 $100,798
Event-related revenue 146,980 146,849
NASCAR broadcasting revenue 217,469 207,369
Other operating revenue 31,320 29,293
Total revenues $496,463 $484,309
Expenses and other:
Direct expense of events $104,303 $102,196
NASCAR event management fees 133,682 128,254
Other direct expenses 19,541 18,513
General and administrative 177,926 194,120
Total expenses and other $435,452 $443,083
Income from continuing operations $61,011 $41,226
The complete question is 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 Speedway Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways. Current Year Previous Year Revenues: Admissions $100,694 $100,798 Event-related revenue 146,980 146,849 NASCAR broadcasting revenue 217,469 207,369 Other operating revenue 31,320 29,293 Total revenues $496,463 $484,309 Expenses and other: Direct expense of events $104,303 $102,196 NASCAR event management fees 133,682 128,254 Other direct expenses 19,541 18,513 General and administrative 177,926 194,120 Total expenses and other $435,452 $443,083 Income from continuing operations $61,011 $41,226 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. (Note: Due to rounding, amounts may not total 100%). Round your percentages to one decimal place.
To learn more about income statement refer to:
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The comparative income statement for Speedway motorsports Inc. over several fiscal years gives insights into revenue, costs, and profit trends. Increasing revenues coupled with increasing costs might indicate a need for cost efficiency, while a higher rate of profit growth compared to revenues could suggest effective cost management.
The question refers to a comparative income statement of Speedway Motorsports, Inc., a major operator of motor speedways. A comparative income statement compares the income statements of a company across several fiscal years. This can provide valuable insights into how revenues, costs, and profits are developing over time, and thus give indications of how the company's business model is working and where there might be room for improvements.
For example, if Speedway Motorsports' income statements show increasing revenues but also increasing costs, it might indicate that they need to work on cost efficiency. Alternatively, if profits are increasing faster than revenues, it could suggest that their cost management is effective.
#SPJ12
b. She will be creative.
c. She will be nervous, depressed, and insecure.
d. She will be easily distracted.
e. She will perform better in jobs that require significant interpersonal interaction.
Answer: d. She will be easily distracted.
Explanation:
When one is said to be conscientious, it means that they are very dedicated to their duty. They value their duty and they want to do it well. A conscientious person is focused on their duty with the aim of fulfilling it to the best of their ability and so are reliable and trustworthy.
If a person is said to be low in conscientiousness, it means that they do not value their duty as well as they should and like Jane Simpson can get easily distracted from said duty.
b. You cannot inventory service checked.
c. Employees do not require any technical training unanswered.
d. The service itself cannot be patented checked.
e. The process is part of the product
Answer:
The correct answers are letters "A", "B", "D" and "E".
Explanation:
A service system is a combination of Information Technology (IT) technologies and corporate networks that provide services to customers. Service systems have added values that differentiates and include the efforts of people in the operations. Online education programs are examples of service systems.
Manufacturing systems are the traditional organizations in which a product is created with the use of materials, labor, managerial support, and equipment to produce goods in organized and established cycles aiming to offer a product that satisfies consumers' needs.
Compared to manufacturing systems, service systems are intangible because even if people can make use of them, they are not physic; they cannot be inventoried since there is no specific form of measuring service systems by units; they cannot be patented because most service systems add value to already existing services with the use of technology; and, the process of providing the service is the product itself.
Service systems differ from manufacturing systems in several ways, particularly in that services can't be inventoried, they usually can't be patented, and the process of service delivery is often considered part of the product itself. Hence the correct option is (b, d).
Significant ways in which service systems differ from manufacturing systems include the fact that you cannot inventory service and the service itself cannot usually be patented. These characteristics highlight major differences between services and physical products.
In addition, the process of delivering the service is often considered part of the product in a service system. For instance, customer experience is integral to services delivery, unlike in manufacturing where the product and its manufacturing process are usually distinct.
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Answer: Using buffer stocks to ensure speedy supply.
Explanation:
Differentiation is a strategy that is used to differentiate a good or service from other products that are similar which are offered by competitors. It is the development of a good or service, that is unique and stands out for the customers, in terms of features, product design, quality, brand image, or customer service.
Modular design to differentiate a product, collating market research data and minimizing inventory are all product differentiation strategies.
Answer: C. Use buffer stocks to ensure speedy supply.
Explanation: All options except the use of buffer stocks to ensure speedy supply are included in the differentiation strategy decisions. A differentiation strategy is one of the ways a business distinguishes itself from competition and is defined as the approach in development of new products that a firm employs in order to offer unique products that customers will find superior to others in the market. It is important because it allows businesses not just to distinguish themselves from competition, but to also emphasize the unique aspects that make its product superior, accelerating visibility and perceived expertise, that results in better growth and profitability.
Answer:
The answer is $6,693,753
Explanation:
Net Working Capital = current assets - current liabilities
Current assets:
Cash and marketable securities
Inventory
Accounts receivable
Other current assets
$1,235,455 + $7,145,200 + $3,489,700 + $121,455
Total current assets = $11,991,810
Current liabilities:
Accounts payable = $4,159,357
Notes payable = $1,138,700
Total current liabilities = $5,298,057
Net working capital
= $11,991,810 - $5,298,057
= $6,693,753
Answer: Raises the levels of both productivity and income
Explanation:
In a closed Economy, there is no trade with the outside world.
That would mean that the GDP formula for their expenditure model will look like this,
Y = C + I + G
Where Y is (GDP)
C is consumption
I is investment and,
G is Government Spending
Investment is also known as Savings because it is the amount of Total income that is not spent after individuals CONSUME and the Government SPENDS,
I = Y - G - C.
When an economy SAVES MORE they are sacrificing consumption now for future consumption and saving more.
This means that there is more money to invest in Economic activities.
Since there is a higher Investment in Economic activities, we can expect higher CAPITAL STOCK which can drive Economic growth as it leads to greater productivity as well as greater income because the Economy is growing.
The Harrod-Domar model of economic growth speaks more on this.
Cash: $50,000 $60,000
Accounts receivable: 112,000 108,000
Inventories: 105,000 93,000
Prepaid expenses: 4,500 6,500
Accounts payable-
(merchandise creditors): 75,000 89,000
What is the amount of cash flows, from operating activities, reported on the statement of cash flows, prepared by the indirect method?
Answer:
The amount of cash flows, from operating activities, reported on the statement of cash flows, prepared by the indirect method is $268,702
Explanation:
The Net Income for the year is adjusted for non-cash items, items appearing elsewhere and items in movement of working capital to arrive at the net cash flow from operating activities using the indirect method.
Cash flows, from operating activities
Net income $250,771
adjusted for non-cash items
Depreciation $35,093
Amortization $10,838
adjusted for items in movement of working capital
Increase in Accounts receivable ($4,000)
Increase in Inventories ($12,000)
Decrease in Prepaid expenses $2,000
Decrease in Accounts payable (14,000)
Net Cash flows, from operating activities $268,702