Trying to calculate and forecast NOA and NOPAT using the ROPI model.

Please provide detailed calculations to arrive at answers.

Estimating Share Value Using the ROPI Model Assume the following are the income statement and balance sheet for Intel Corporation. INTEL CORPORATION Consolidated Statements of Income Year Ended (in millions) Dec. 25, 2010 Dec. 26, 2009 Dec. 27, 2008 44,423 37,586 35,127 Net revenue 15,132 15,566 16,742 Cost of sales Gross margin 29,291 19,561 20,844 Research and development 6,576 5,653 5,722 Marketing, general and adminstrative 6,309 7,931 5,452 Restructuring and asset impairment charges 231 710 18 35 Amortization of acquisition-related intangibles 12,903 13,850 11,890 Operating expenses Operating income 16,388 5,711 8,954 Gains (losses) on equity method investments, net (147 1,380) Gains (losses) on other equity investments, net 231 23 376) 109 163 488 Interest and other, net Income before taxes 16,845 5,704 7,686 4,581 1,335 2,394 Provisions for taxes 4,369 5,292 Net income 12,264 *This should be considered as operating income. INTEL CORPORATION Consolidated Balance Sheets As of Year-Ended (In millions, except par value) Assets Current assets Cash and cash equivalents Short-term investments Trading assets Accounts receivables, net Inventories Deferred tax assets Other current assets Total current assets Property, plant and equipment, net Marketable equity securities g-term investments** Support Dec. 25, 2010 Dec. 26, 2009 5,498 3,987 11,294. 5,285 5,093 4,648 2,273 2,867 3,757 2,935 1,888 1,216 1,614 813 32,011 21,157 17,899 17,225 1,008 773 3,026 4,179