2. Using the Form 10-K and annual reports, answer the following questions:

(a) Craft a short succinct narrative of Intel's business including what the company does and what are

the major product segments. Explain the major product transition taking place at the company.

(Hint: this is described in 2019). Do not cut and paste from the annual report, this narrative should

be in your own words. Points will be deducted for this. Your source should only include the annual

reports. Do not take information from the internet or Wikipedia. The goal here is for you to be able

to read and decipher and translate an annual report. This will be a base for you to later assess

Intel's competitiveness in their industry. You are limited to three sentences for this description

which will require you to be very precise. Points will be deducted for a description with more than

three sentences. (15pts)

(b) Provide a bar graph of revenue for the past 5 years (ie. 2017-2021) detailed in the financial

statements. Overlay the revenue growth rates on your bar graph. Do not cut and paste any graphs

from the financial statements. Your graph should be visually clear and appealing and accurate.

Include proper labels and title. You should have a label on each data point. Points will be deducted

for improper labeling. (20pts)

(c) Explain how and when revenues are recognized? (Hint: Notes to Financial Statement) Provide

details (ie. Not just accrual accounting). Discuss the accounting change made in 2018 and how that

would affect the revenues reported in 2018. Focus on top-line sales only. No need for a detailed

description of rebates, etc. (15pts)