Koester, Inc., states in its 2020 10-K filing with the SEC, In October 2020, two major credit rating agencies changed Koesters long-term credit rating outlook to negative and one of the credit rating agencies reduced Koesters short-term credit rating. Koesters 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

Assess Koesters profitability. (Round answers to 1 decimal places, e.g. 52.7.) Gross Margin

2018		enter percentages rounded to 1 decimal place %
2019		enter percentages rounded to 1 decimal place %
2020		enter percentages rounded to 1 decimal place %

Return on assets

2020

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Return on common stockholders equity

2020

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