The consolidated 2019, 2018, and 2017 income statements for Butler Corporation follow. Butler Corporation Consolidated Income Statements
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The consolidated 2019, 2018, and 2017 income statements for Butler Corporation follow.
Butler Corporation
Consolidated Income Statements
(In millions except per share amounts)
1. Prepare common size income statements for horizontal analysis (in percentage terms, rounded to two decimal places). You do not need to include the actual dollar amounts shown above.
2. Indicate what Butler's 2019, 2018, and 2017 tax rates were on its income before taxes (in percentage terms, rounded to two decimal places).
3. Explain why net income increased by a larger percentage than sales in 2019 and 2018.
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