image in header gets skewed when I print

[Officegirl]

I'm making a template with my company's logo in the header. It is
perfectly circular in reality and in page layout view.
But when I print or print preview, it becomes egg-shaped. It has
plenty of room. I have moved the margins and made sure it fits just
fine.
I've tried png, jpg and gif formats.
I'm using Excel 2007, but I've tried it in 2003 and get the same
results.
I've tried checking and unchecking the boxes "Lock aspect ratio" and
"Relative to original picture size".
Does anybody have any ideas of what I can try next?

 

[AltaEgo]

I suspect you need to adjust the size of the logo to fit the header or the
header size to enable the logo to fit.

http://support.microsoft.com/kb/288966

 

[Officegirl]

That's a nice thought but it doesn't make a difference. I've decreased
the size to 50% of it's original size and left as much room for it as
before. It still gets skewed. I've tried different images in other
workbooks and it seems like it always acts like this.