Selected fiscal year balance sheet and income statement information for the computer chip maker, Intel Corporation, follows($ millions).

a. Calculate lntel's return on equity (ROE) for fiscal years 2017 and 2016.

b. Calculate Intel's return on assets (ROA) and return on financial leverage (ROFL) for each year. Is financial leverage working to the advantage of Intel's shareholders? Use an incremental tax rate of 35%.

c. Use the DuPont formulation in the Business Insight on page 230 to analyze the variations in Intel's ROE over this period. How does this analysis differ from your answers to a and b above?

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Balance sheet information ($ millions) 2017 2016 2015 Total assets $123,249 $113,327 $101,459 Total shareholders' equity. 69,019 66,226 61,085 .... Income statement information (S millions) 2017 2016 2015 Sales revenue. $ 2,761 $ 59,387 $ 55,355 Interest expense. 637 725 345 Net income. 9,601 10,316 11,420