these effects have had a significant impact on our business , including reduced demand for our workforce solutions , early terminations or reductions in projects , and hiring freezes , and a shift of a majority of our workforce to remote operations , all of which have contributed to a decline in revenues and other significant adverse impacts on our financial results . other potential impacts of covid-19 may include continued or expanded closures or reductions of operations with respect to our client partners ' operations or facilities , the possibility our client partners will not be able to pay for our workforce solutions , or that they will attempt to defer payments owed to us , either of which could materially impact our liquidity , the possibility that the uncertain nature of the pandemic may not yield the increase in certain of our workforce solutions that we have historically observed during periods of economic downturn , and the possibility that various government-sponsored programs to provide economic relief may be inadequate . further , we may continue to experience adverse financial impacts , some of which may be material , if we can not offset revenue declines with cost savings through expense-related initiatives , human capital management initiatives , or otherwise . as a result of these observed and potential developments , we expect our business , results of operations , and financial condition to continue to be negatively affected . real estate was strongly affected by covid-19 when client partners immediately stopped non-emergency maintenance , which is our largest revenue source . additional , during our high volume season , many client partners were forced into a virtual leasing model verses using onsite touring options . with many government actions requiring eviction moratoriums , our client partners ' response was to tighten all expenses . we will continue to actively monitor the situation and may take further actions that alter our business operations as may be required by federal , state , local authorities , or that we determine are in the best interests of our team members , field talent , client partners , and stockholders . the potential effects are not clear for any such alterations or modifications on our business , our client partners , candidates , vendors , or on our financial results . results of operations the following tables summarize key components of our results of operations for the periods indicated , both in dollars and as a percentage of revenues , and have been derived from our consolidated financial statements . replace_table_token_7_th 30 replace_table_token_8_th fifty-two week fiscal year ended december 27 , 2020 ( fiscal 2020 ) compared with fifty-two week fiscal year ended december 29 , 2019 ( fiscal 2019 ) revenues : replace_table_token_9_th real estate revenues : real estate revenues decreased approximately $ 27.7 million ( 28.7 % ) due to the effects of the covid-19 pandemic discussed above . the decrease was due to a 31.7 % decrease in billed hours partially offset by a 4.1 % increase in average bill rate . revenue from new offices was $ 0.8 million . professional revenues : professional revenues increased approximately $ 15.1 million ( 12.2 % ) , primarily from ljk and edgerock acquisitions , which contributed $ 36.1 million of new revenues . the remaining professional group decreased $ 21.1 million . even with the overall increase , billed hours decreased 5.0 % offsets by an increase of 17.7 % in average bill rate and an increase in permanent placements of $ 1.2 million . light industrial revenues : light industrial revenues decreased approximately $ 3.8 million ( 5.1 % ) due to the effects of the covid-19 pandemic . the decrease was due to a 11.8 % decrease in billed hours partially offset by a 7.6 % increase in average bill rate . 31 gross profit : gross profit represents revenues from workforce solutions less cost of services expenses , which consist of payroll , payroll taxes , payroll-related insurance , field talent costs , and reimbursable costs . replace_table_token_10_th replace_table_token_11_th overall , our gross profit decreased approximately $ 4.5 million ( 5.5 % ) . as a percentage of revenue , gross profit has remained consistent at 27.4 % , primarily due to higher gross profits across our professional segment . we determine spread as the difference between bill rate and pay rate . real estate gross profit : real estate gross profit decreased approximately $ 11.1 million ( 30.1 % ) consistent with the decrease in revenue , which was partially offset by a 2.2 % increase in average spread . professional gross profit : professional gross profit increased approximately $ 7.3 million ( 22.3 % ) consistent with the increase in revenue , primarily from ljk and edgerock acquisitions , which contributed $ 12.2 million of gross profit and an overall increase of 19.5 % in average spread . light industrial gross profit : light industrial gross profit decreased approximately $ 0.7 million ( 6.2 % ) in line with the decreased revenue , which was partially offset by an increase of 6.0 % in the average spread . selling , general and administrative expenses : selling , general and administrative expenses increased approximately $ 4.4 million ( 7.8 % ) , primarily related from ljk and edgerock acquisitions , which contributed $ 9.5 million of new expense that was partially offset by reduced compensation costs from the decline in gross profit and by many of our actions taken starting in march related to the covid-19 pandemic to reduce actual and planned operating costs as detailed in the following table . 32 replace_table_token_12_th depreciation and amortization : depreciation and amortization charges increased approximately $ 0.1 million ( 2.9 % ) . story_separator_special_tag as a result of the certain business developments and changes in our long-term projections , we concluded a triggering event had occurred that required an interim impairment assessment to be performed . the qualitative assessment thresholds were met on all reporting units except the finance and accounting group , within the professional segment . we calculated the quantitative impairment test of the finance and accounting group using the relief from royalty method for the indefinite-lived intangible assets and residual method for the definite-lived intangible assets by asset group ( see note 6 in the notes to consolidated financial statements ) . we determined that there were no impairment indicators for these assets in fiscal 2019 and 2018. goodwill goodwill represents the difference between the enterprise value/cash paid less the fair value of all recognized net asset fair values including identifiable intangible asset values in a business combination . we review goodwill for impairment annually during the fourth quarter or whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable . we considered the current and expected future economic and market conditions surrounding covid-19 and its impact on each of the reporting units . as a result of the certain business developments and changes in our long-term 39 projections , during second quarter 2020 , we concluded a triggering event had occurred that required an interim impairment assessment to be performed . the qualitative assessment thresholds were met on all reporting units except the finance and accounting group . we calculated the quantitative impairment test of the finance and accounting group using the discounted cash flow method and concluded there was no goodwill impairment loss . based on annual testing , the company has determined that there was no goodwill impairment in fiscal 2020 , 2019 or 2018. we first evaluate qualitative factors to determine whether it is more likely than not ( that is , a likelihood of more than 50 percent ) that the fair value of the reporting unit is less than its carrying amount , including goodwill . if after qualitatively assessing the totality of events or circumstances , we determine that it is not more likely than not that the fair value of the reporting unit is less than its carrying amount , then further testing is unnecessary . if after assessing the totality of events or circumstances , we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount , we then estimate the fair value of the reporting unit and compare the fair value of the reporting unit with its carrying amount , including goodwill , as discussed below . in assessing whether it is more likely than not that an indefinite-lived intangible asset is impaired , we assess relevant events and circumstances that could affect the significant inputs used to determine the fair value . the quantitative impairment test for an indefinite-lived intangible asset consists of a comparison of the fair value of the asset with its carrying amount . if the carrying amount of an intangible asset exceeds its fair value , a reporting unit shall recognize an impairment loss in an amount equal to that excess . the quantitative goodwill impairment test involves a two-step process . in the first step , we compare the fair value of each reporting unit to its carrying value . if the fair value of the reporting unit exceeds its carrying value , goodwill is not impaired and no further testing is required . if the fair value of the reporting unit is less than the carrying value , we must perform the second step of the impairment test to measure the amount of impairment loss . in the second step , the reporting unit 's fair value is allocated to all of the assets and liabilities of the reporting unit , including any unrecognized intangible assets , in a hypothetical analysis that calculates the implied fair value of goodwill in the same manner as if the reporting unit was being acquired in a business combination . if the implied fair value of the reporting unit 's goodwill is less than the carrying value , the difference is recorded as an impairment loss . contingent consideration we have obligations , to be paid in cash , related to our acquisitions if certain future operating and financial goals are met . the fair value of this contingent consideration is determined using expected cash flows and present value technique . the fair value calculation of the expected future payments uses a discount rate commensurate with the risks of the expected cash flow . the resulting discount is amortized as interest expense over the outstanding period using the effective interest method . leases we lease all their office space through operating leases , which expire at various dates through 2025. many of the lease agreements obligate us to pay real estate taxes , insurance and certain maintenance costs , which are accounted for separately . certain of our lease arrangements contain renewal provisions from 3 to 10 years , exercisable at our option . our lease agreements do not contain any material residual value guarantees or material restrictive covenants . we determine if an arrangement is an operating lease at inception . leases with an initial term of 12 months or less are not recorded on the balance sheet . all other leases are recorded on the balance sheet as right-of-use assets and lease liabilities for the lease term . right of use lease assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term and include options to extend or terminate the lease when they are reasonably certain to be exercised . the present value of lease payments is determined primarily using the incremental borrowing rate based on the information available at lease commencement date . our operating lease

liquidity and capital resources our working capital requirements are primarily driven by field talent payments , tax payments and client partner accounts receivable receipts . since receipts from client partners lag payments to field talent , working capital requirements increase substantially in periods of growth . our primary sources of liquidity are cash generated from operations and borrowings under our credit agreement with bmo harris bank , n.a . ( “ bmo ” ) , that provides for a revolving credit facility maturing july 16 , 2024 ( the “ revolving facility ” ) . our primary uses of cash are payments to field talent , team members , related payroll liabilities , operating expenses , capital expenditures , cash interest , cash taxes , dividends and contingent consideration and debt payments . we believe that the cash generated from operations , together with the borrowing availability under our revolving facility , will be sufficient to meet our normal working capital needs for at least the next twelve months , including investments made , and expenses incurred , in connection with opening new markets throughout the next year . our ability to continue to fund these items may be affected by general economic , competitive and other factors , many of which are outside of our control . if our future cash flow from operations and other capital resources are insufficient to fund our liquidity needs , we may be forced to obtain additional debt or equity capital or refinance all or a portion of our debt .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our working capital requirements are primarily driven by field talent payments , tax payments and client partner accounts receivable receipts . since receipts from client partners lag payments to field talent , working capital requirements increase substantially in periods of growth . our primary sources of liquidity are cash generated from operations and borrowings under our credit agreement with bmo harris bank , n.a . ( “ bmo ” ) , that provides for a revolving credit facility maturing july 16 , 2024 ( the “ revolving facility ” ) . our primary uses of cash are payments to field talent , team members , related payroll liabilities , operating expenses , capital expenditures , cash interest , cash taxes , dividends and contingent consideration and debt payments . we believe that the cash generated from operations , together with the borrowing availability under our revolving facility , will be sufficient to meet our normal working capital needs for at least the next twelve months , including investments made , and expenses incurred , in connection with opening new markets throughout the next year . our ability to continue to fund these items may be affected by general economic , competitive and other factors , many of which are outside of our control . if our future cash flow from operations and other capital resources are insufficient to fund our liquidity needs , we may be forced to obtain additional debt or equity capital or refinance all or a portion of our debt .
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 Suspicious Activity Report : these effects have had a significant impact on our business , including reduced demand for our workforce solutions , early terminations or reductions in projects , and hiring freezes , and a shift of a majority of our workforce to remote operations , all of which have contributed to a decline in revenues and other significant adverse impacts on our financial results . other potential impacts of covid-19 may include continued or expanded closures or reductions of operations with respect to our client partners ' operations or facilities , the possibility our client partners will not be able to pay for our workforce solutions , or that they will attempt to defer payments owed to us , either of which could materially impact our liquidity , the possibility that the uncertain nature of the pandemic may not yield the increase in certain of our workforce solutions that we have historically observed during periods of economic downturn , and the possibility that various government-sponsored programs to provide economic relief may be inadequate . further , we may continue to experience adverse financial impacts , some of which may be material , if we can not offset revenue declines with cost savings through expense-related initiatives , human capital management initiatives , or otherwise . as a result of these observed and potential developments , we expect our business , results of operations , and financial condition to continue to be negatively affected . real estate was strongly affected by covid-19 when client partners immediately stopped non-emergency maintenance , which is our largest revenue source . additional , during our high volume season , many client partners were forced into a virtual leasing model verses using onsite touring options . with many government actions requiring eviction moratoriums , our client partners ' response was to tighten all expenses . we will continue to actively monitor the situation and may take further actions that alter our business operations as may be required by federal , state , local authorities , or that we determine are in the best interests of our team members , field talent , client partners , and stockholders . the potential effects are not clear for any such alterations or modifications on our business , our client partners , candidates , vendors , or on our financial results . results of operations the following tables summarize key components of our results of operations for the periods indicated , both in dollars and as a percentage of revenues , and have been derived from our consolidated financial statements . replace_table_token_7_th 30 replace_table_token_8_th fifty-two week fiscal year ended december 27 , 2020 ( fiscal 2020 ) compared with fifty-two week fiscal year ended december 29 , 2019 ( fiscal 2019 ) revenues : replace_table_token_9_th real estate revenues : real estate revenues decreased approximately $ 27.7 million ( 28.7 % ) due to the effects of the covid-19 pandemic discussed above . the decrease was due to a 31.7 % decrease in billed hours partially offset by a 4.1 % increase in average bill rate . revenue from new offices was $ 0.8 million . professional revenues : professional revenues increased approximately $ 15.1 million ( 12.2 % ) , primarily from ljk and edgerock acquisitions , which contributed $ 36.1 million of new revenues . the remaining professional group decreased $ 21.1 million . even with the overall increase , billed hours decreased 5.0 % offsets by an increase of 17.7 % in average bill rate and an increase in permanent placements of $ 1.2 million . light industrial revenues : light industrial revenues decreased approximately $ 3.8 million ( 5.1 % ) due to the effects of the covid-19 pandemic . the decrease was due to a 11.8 % decrease in billed hours partially offset by a 7.6 % increase in average bill rate . 31 gross profit : gross profit represents revenues from workforce solutions less cost of services expenses , which consist of payroll , payroll taxes , payroll-related insurance , field talent costs , and reimbursable costs . replace_table_token_10_th replace_table_token_11_th overall , our gross profit decreased approximately $ 4.5 million ( 5.5 % ) . as a percentage of revenue , gross profit has remained consistent at 27.4 % , primarily due to higher gross profits across our professional segment . we determine spread as the difference between bill rate and pay rate . real estate gross profit : real estate gross profit decreased approximately $ 11.1 million ( 30.1 % ) consistent with the decrease in revenue , which was partially offset by a 2.2 % increase in average spread . professional gross profit : professional gross profit increased approximately $ 7.3 million ( 22.3 % ) consistent with the increase in revenue , primarily from ljk and edgerock acquisitions , which contributed $ 12.2 million of gross profit and an overall increase of 19.5 % in average spread . light industrial gross profit : light industrial gross profit decreased approximately $ 0.7 million ( 6.2 % ) in line with the decreased revenue , which was partially offset by an increase of 6.0 % in the average spread . selling , general and administrative expenses : selling , general and administrative expenses increased approximately $ 4.4 million ( 7.8 % ) , primarily related from ljk and edgerock acquisitions , which contributed $ 9.5 million of new expense that was partially offset by reduced compensation costs from the decline in gross profit and by many of our actions taken starting in march related to the covid-19 pandemic to reduce actual and planned operating costs as detailed in the following table . 32 replace_table_token_12_th depreciation and amortization : depreciation and amortization charges increased approximately $ 0.1 million ( 2.9 % ) . story_separator_special_tag as a result of the certain business developments and changes in our long-term projections , we concluded a triggering event had occurred that required an interim impairment assessment to be performed . the qualitative assessment thresholds were met on all reporting units except the finance and accounting group , within the professional segment . we calculated the quantitative impairment test of the finance and accounting group using the relief from royalty method for the indefinite-lived intangible assets and residual method for the definite-lived intangible assets by asset group ( see note 6 in the notes to consolidated financial statements ) . we determined that there were no impairment indicators for these assets in fiscal 2019 and 2018. goodwill goodwill represents the difference between the enterprise value/cash paid less the fair value of all recognized net asset fair values including identifiable intangible asset values in a business combination . we review goodwill for impairment annually during the fourth quarter or whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable . we considered the current and expected future economic and market conditions surrounding covid-19 and its impact on each of the reporting units . as a result of the certain business developments and changes in our long-term 39 projections , during second quarter 2020 , we concluded a triggering event had occurred that required an interim impairment assessment to be performed . the qualitative assessment thresholds were met on all reporting units except the finance and accounting group . we calculated the quantitative impairment test of the finance and accounting group using the discounted cash flow method and concluded there was no goodwill impairment loss . based on annual testing , the company has determined that there was no goodwill impairment in fiscal 2020 , 2019 or 2018. we first evaluate qualitative factors to determine whether it is more likely than not ( that is , a likelihood of more than 50 percent ) that the fair value of the reporting unit is less than its carrying amount , including goodwill . if after qualitatively assessing the totality of events or circumstances , we determine that it is not more likely than not that the fair value of the reporting unit is less than its carrying amount , then further testing is unnecessary . if after assessing the totality of events or circumstances , we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount , we then estimate the fair value of the reporting unit and compare the fair value of the reporting unit with its carrying amount , including goodwill , as discussed below . in assessing whether it is more likely than not that an indefinite-lived intangible asset is impaired , we assess relevant events and circumstances that could affect the significant inputs used to determine the fair value . the quantitative impairment test for an indefinite-lived intangible asset consists of a comparison of the fair value of the asset with its carrying amount . if the carrying amount of an intangible asset exceeds its fair value , a reporting unit shall recognize an impairment loss in an amount equal to that excess . the quantitative goodwill impairment test involves a two-step process . in the first step , we compare the fair value of each reporting unit to its carrying value . if the fair value of the reporting unit exceeds its carrying value , goodwill is not impaired and no further testing is required . if the fair value of the reporting unit is less than the carrying value , we must perform the second step of the impairment test to measure the amount of impairment loss . in the second step , the reporting unit 's fair value is allocated to all of the assets and liabilities of the reporting unit , including any unrecognized intangible assets , in a hypothetical analysis that calculates the implied fair value of goodwill in the same manner as if the reporting unit was being acquired in a business combination . if the implied fair value of the reporting unit 's goodwill is less than the carrying value , the difference is recorded as an impairment loss . contingent consideration we have obligations , to be paid in cash , related to our acquisitions if certain future operating and financial goals are met . the fair value of this contingent consideration is determined using expected cash flows and present value technique . the fair value calculation of the expected future payments uses a discount rate commensurate with the risks of the expected cash flow . the resulting discount is amortized as interest expense over the outstanding period using the effective interest method . leases we lease all their office space through operating leases , which expire at various dates through 2025. many of the lease agreements obligate us to pay real estate taxes , insurance and certain maintenance costs , which are accounted for separately . certain of our lease arrangements contain renewal provisions from 3 to 10 years , exercisable at our option . our lease agreements do not contain any material residual value guarantees or material restrictive covenants . we determine if an arrangement is an operating lease at inception . leases with an initial term of 12 months or less are not recorded on the balance sheet . all other leases are recorded on the balance sheet as right-of-use assets and lease liabilities for the lease term . right of use lease assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term and include options to extend or terminate the lease when they are reasonably certain to be exercised . the present value of lease payments is determined primarily using the incremental borrowing rate based on the information available at lease commencement date . our operating lease

