Refer to the 2016 financial statements for Canadian Tire Corporation in Appendix C. 

Required:

a. Of the $263.5 million in income tax expense reported on the 2016 income statement, how much was current and how much was deferred? 

b. How much was the average effective tax rate faced by Canadian Tire (calculated as income tax expense divided by pre-tax income)? How does this figure compare with the statutory tax rate according to the company? 

c. How much would tax expense have been in 2016 had the statutory tax rate applied to pretax income? 

d. By how much did the rate increase or decrease from 2015 to 2016? What effect did this change have on income tax expense in 2016? 

e. How much in assets and liabilities relating to deferred taxes did the company have at the end of 2016?