. Intel Problem The 2004 Intel Annual Report can be found at the following Web site: www.prenhall.com/ fraser. Using the annual report, answer the following questions:

(a) Describe the type of business in which Intel operates.

(b) Read the "Letter to our stockholders" and discuss any information learned from this letter that might be useful to an analyst.

(e) What type of audit opinion was given for the financial statements and the internal financial controls of Intel? Explain the key items discussed in the audit report.

(d) Read the Management Discussion and Analysis (MD&A). Discuss whether the items that should be discussed in the MD&A are included. Support your answer with examples from the Intel MD&A.

(e) After reading the MD&A, discuss the future prospects of Intel. Do you have any concerns? If so, describe those concerns.