Vertical Analysis of Income StatementThe 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 YearRevenues: Admissions $78,332 $86,949 Event-related revenue 140,210 133,632 NASCAR broadcasting revenue 216,592 209,155 Other operating revenue 26,780 28,622 Total revenues $461,914 $458,358 Expenses and other: Direct expense of events $101,876 $98,973 NASCAR event management fees 123,212 119,101 Other direct operating expenses 18,502 18,782 General and administrative 164,949 177,132 Total expenses and other $408,539 $413,988 Income from continuing operations $53,375 $44,370 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.Speedway Motorsports, Inc.Comparative Income Statement (in thousands of dollars)For the Years Ended December 31Current Year Amount Current Year Percent Prior Year Amount Prior Year PercentRevenues: Admissions $78,332 fill in the blank cdb287f7ffdffb4_1% $86,949 fill in the blank cdb287f7ffdffb4_2%Event-related revenue 140,210 fill in the blank cdb287f7ffdffb4_3% 133,632 fill in the blank cdb287f7ffdffb4_4%NASCAR broadcasting revenue 216,592 fill in the blank cdb287f7ffdffb4_5% 209,155 fill in the blank cdb287f7ffdffb4_6%Other operating revenue 26,780 fill in the blank cdb287f7ffdffb4_7% 28,622 fill in the blank cdb287f7ffdffb4_8%Total revenues $461,914 fill in the blank cdb287f7ffdffb4_9% $458,358 fill in the blank cdb287f7ffdffb4_10%Expenses and other: Direct expense of events $101,876 fill in the blank cdb287f7ffdffb4_11% $98,973 fill in the blank cdb287f7ffdffb4_12%NASCAR event management fees 123,212 fill in the blank cdb287f7ffdffb4_13% 119,101 fill in the blank cdb287f7ffdffb4_14%Other direct operating expenses 18,502 fill in the blank cdb287f7ffdffb4_15% 18,782 fill in the blank cdb287f7ffdffb4_16%General and administrative 164,949 fill in the blank cdb287f7ffdffb4_17% 177,132 fill in the blank cdb287f7ffdffb4_18%Total expenses and other $408,539 fill in the blank cdb287f7ffdffb4_19% $413,988 fill in the blank cdb287f7ffdffb4_20%Income from continuing operations $53,375 fill in the blank cdb287f7ffdffb4_21% $44,370 fill in the blank cdb287f7ffdffb4_22%b. Overall revenue increased some between the two years, accompanied by a slight change in the overall mix of revenue sources. The NASCAR broadcasting revenue increased by 1.3% of total revenue, while event-related revenue increased by 1.2% of total revenue. NASCAR event management fees, increased by 0.7% of total revenue. General and administrative expenses, however, decreased by over 2.9% of total revenue. It appears that aggressive cost cutting has helped the company significantly improve its income from continuing operations.