Access the 2015 financial statements and related disclosure notes of Ford Motor Company from its website at corporate.ford.com.

Required:

1) In Note 21, find Fords net deferred tax asset or liability. What is the number?

2) Does Ford show a valuation allowance against deferred tax assets? If so, what is the number, and what is Fords explanation for it?

3) Does Ford have any NOL carryforwards? What is the amount of any carryforward, what deferred tax asset or liability is associated with it, and what effect tax rate does that imply was used to calculate its deferred tax effect?