The 2007 Intel Annual Report can be found at the following Web site: www .prenhall.com/fraser. Using the annual report, answer the following questions:

(a) Prepare a common-size balance sheet for Intel for all years presented.

(b) Describe the types of assets Intel owns. Which assets are the most significant to the company? Using the notes to the financial statements, discuss the accounting methods used to value assets. What other information can be learned about the asset accounts from the notes? Have there been significant changes to the asset structure from 2006 to 2007?

(c) Analyze the accounts receivable and allowance accounts.

(d) Describe the types of liabilities Intel has incurred. Which liabilities are the most significant to the company? Have there been significant changes to the liability and equity structure from 2006 to 2007?

(e) Describe the commitments and contingencies of Intel.

(f) Under which classification(s) are deferred taxes listed? What item is the most significant component of deferred taxes?