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Horizontal Analysis Using Income Statements

The consolidated $2023,2022,$ and $2021$ income statements for Butler Corporation follow.

Butler Corporation

Consolidated Income Statements

$($in millions except per share amounts$)$

December $31,$

$202320222021$

Net sales $$26,130\mathrm{.}0$ $$24,780\mathrm{.}0$ $$19,292\mathrm{.}2$

Costs and expenses:

Cost of goods sold $(11,946\mathrm{.}1)(10,611\mathrm{.}7)(9,876\mathrm{.}2)$

Selling, general, and administrative $(9,864\mathrm{.}4)(8,721\mathrm{.}2)(7,605\mathrm{.}9)$

Amortization of intangible assets $(408\mathrm{.}0)(265\mathrm{.}9)(208\mathrm{.}3)$

Operating income $$3,911\mathrm{.}5$ $$5,181\mathrm{.}2$ $$1,601\mathrm{.}8$

Interest expense $(572\mathrm{.}7)(586\mathrm{.}1)(613\mathrm{.}7)$

Interest income $88\mathrm{.}7113\mathrm{.}7161\mathrm{.}6$

Income before income taxes $$3,427\mathrm{.}5$ $$4,708\mathrm{.}8$ $$1,149\mathrm{.}7$

Provision for income taxes $834\mathrm{.}6597\mathrm{.}1597\mathrm{.}5$

Net income $$2,592\mathrm{.}9$ $$4,111\mathrm{.}7$ $$552\mathrm{.}2$

Required:

Question Content Area

$1.$ Prepare common size income statements for horizontal analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the $"\%"$ sign with your answer. For example, $"100\mathrm{.}00"$ or $"28\mathrm{.}72".$ You do not need to include the actual dollar amounts shown above.

Butler Corporation

Consolidated Income Statements

December $31$

$202320222021$

Net sales fill in the blank f$7$c$8$effa$0$fe$5031\_1$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_2$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_3$

$\%$

Costs and expenses:

Cost of goods sold fill in the blank f$7$c$8$effa$0$fe$5031\_4$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_5$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_6$

$\%$

Selling, general, and administrative fill in the blank f$7$c$8$effa$0$fe$5031\_7$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_8$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_9$

$\%$

Amortization of intangible assets fill in the blank f$7$c$8$effa$0$fe$5031\_10$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_11$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_12$

$\%$

Operating income fill in the blank f$7$c$8$effa$0$fe$5031\_13$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_14$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_15$

$\%$

Interest expense fill in the blank f$7$c$8$effa$0$fe$5031\_16$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_17$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_18$

$\%$

Interest income fill in the blank f$7$c$8$effa$0$fe$5031\_19$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_20$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_21$

$\%$

Income before income taxes fill in the blank f$7$c$8$effa$0$fe$5031\_22$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_23$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_24$

$\%$

Provision for income taxes fill in the blank f$7$c$8$effa$0$fe$5031\_25$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_26$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_27$

$\%$

Net income fill in the blank f$7$c$8$effa$0$fe$5031\_28$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_29$

$\%$ fill in the blank f$7$c$8$effa$0$fe$5031\_30$

$\%$

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$2.$ Indicate what Butler$$s $2023,2022,$ and $2021$ tax rates were on its income before taxes. Round your answers to two decimal places.

$2023$ fill in the blank $1$f$7900$ffffc$5057\_1$

$\%$

$2022$ fill in the blank $1$f$7900$ffffc$5057\_2$

$\%$

$2021$ fill in the blank $1$f$7900$ffffc$5057\_3$

$\%$