Koester, Inc., states in its 2020 10-K filing with the SEC, "In October 2020, two major credit rating agencies changed Koester's long- term credit rating outlook to negative and one of the credit rating agencies reduced Koester's short-term credit rating. Koester's financial statements (in $000) follow. Koester, Inc. Comparative Income Statement For the Year Ended December 31 2020 2019 2018 Sales revenue $5,179,016 $5,102,786 $4,960,100 Cost of goods sold 2,806,148) 2,692.061 2,530,617 Gross profit 2,372,868 2,410,725 2,429,483 Operating expenses 1,708,339 1,679,908 1,643,773 Operating income 664,529 730,817 785,710 Interest expense, net 42.279 58,081 61,611 Other non-operating (income), net (29.799) (23,518) (16,755) Income before income tax 652,049 696,254 740,854 Income tax expense 235,030 123,531 203,222 Net income $417,019 $572,723 $537,632 Koester, Inc. Comparative Balance Sheet As of December 31 Assets 2020 2019 Cash $997,734 $1,156,835 Accounts receivable (net) 760,643 759,033 Inventory 376,897 418.633 Prepaid expenses and other current assets 277,226 302,649 Total current assets 2.412.500 2,637,150 Property, plant, & equipment (net) 547,104 586,526 Other assets 1,412,709 1,532,816 Total Assets $4,372.313 $4.756,492 Liabilities and Stockholders' Equity Short-term borrowings $117,994 $28.995 Current portion of long-term debt 100,000 189.130 Accounts payable 265,936 349.159 Accrued expenses 796,473 880,038 Income taxes payable 182,782 279,849 Total current liabilities 1,463,185 1,727,171 Long-term debt 525,000 400,000 Other 282.395 243.509 Total noncurrent liabilities 807.395 643,509 Stockholders' Equity Common stock, $1.00 par value 441,369 441,369 Additional paid-in capital 1.589,281 1,594,332 Treasury stock (935,711) (473,349) Retained earnings 1,006,794 823,460 Total stockholders' equity 2.101,733 2,385,812 Total Liabilities and Stockholders' Equity $4,372.313 $4,756,492 Prepare common-size income statements for 2018, 2019, and 2020 and common-size balance sheets for 2019 and 2020. (Round percentage answers to 2 decimal places, eg. 52.70. List Assets in order of liquidity. Do not leave any answer field blank. Enter O for amounts. Enter negative amounts using either a negative sign preceding the number, eg. -45.) me Statement les revenue ost of goods sold 2020 2019 2018 100 % 100 % 542 % 52.8 % ross profit 45.8 % 47.2 % perating expenses 33 32.9 % perating income 128 % 143 % terest expense, net 0.8 11 ther non-operating (income), net -0.6 % -0.5 % come before taxes V come tax expense et income Assets Cash Accounts receivable, net Inventory Prepaid expenses 12.6 % 136 45 24 % 81 % 11.2 % 2020 2019 22.8 % 243 % 174 % 16 86 % 88% 63 % 64 % Total current assets 55.2 % 554 % Property & equipment (net) 12.5 123 % Other assets 323% 32.2 % Total assets 100 % 100 % Liabilities & Stockholders' Equity Liabilities & Stockholders' Equity Short-term borrowings 2.7 % 0.6 % Current portion of long-term debt v 2.3 % 4 % 6.1 % 7.3 % Accounts payable Accrued expenses 18.2 al Income taxes payable 18.5 % 4.2 % 5.9 % Total current liabilities 33.5 % 36.3 % Long-term debt 12 12 % 8.4 % Other 6.5 % 5.1 % Total noncurrent liabilities 18.5 96 13.5 % Stockholders' Equity Common stock, $1.00 par value 10.1 % 9.3 % Additional paid-in capital Treasury stock Retained earnings 36.3 96 33.5 % -21.4 % -10 % 23 23 % 17.3 de Total stockholder's equity 48.1 8 50.2 % Total liabilities & stockholders' equity 100 % 100 %