Referencing Styles : Harvard (i) From your firm’s financial statement, list each item of equity and write your understanding of each item. Discuss any changes in each item of equity for your firm over the past year articulating the reasons for the change. (ii) What is your firm’s tax expense in its latest financial statements? (iii) Is this figure the same as the company tax rate times your firm’s accounting income? Explain why this is, or is not, the case for your firm. (iv) Comment on deferred tax assets/liabilities that is reported in the balance sheet articulating the possible reasons why they have been recorded.