The consolidated 2019, 2018, and 2017 income statements for Butler Corporation follow.

Butler Corporation

Consolidated Income Statements

(In millions except per share amounts)

Required:
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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December 31, 2019 $ 25,020.7 2018 2017 $19,292.2 Net sales Costs and expenses: $ 21,970.0 Cost of goods sold Selling, general, and administrative Amortization of intangible assets Operating income (11,946.1) (9,864.4) (303.7) $ 2,906.5 (10,611.7) (8,721.2) (265.9) $ 2,371.2 (9,366.2) (7,605.9) (208.3) $ 2,111.8 December 31, Interest expense Interest income Income before income taxes Provision for income taxes Net income 2019 (572.7) 88.7 $ 2,422.5 834.6 $ 1,587.9 2018 (586.1) 113.7 $ 1,898.8 597.1 $ 1,301.7 2017 (613.7) 161.6 $ 1,659.7 597.5 $ 1,062.2