LO3 M10-22. Analyzing and Interpreting Income Tax Disclosures Apple Inc. (AAPL) Apple Inc. reports the following footnote disclosure to its 2016 10-K report (5 millions). The provision for income taxes consisted of the following: Fiscal Year Ended September 24, 2016 Federal Current.... Deferred.... ** . $ 7652 ... 5043 12,695 State Current Deferred... .. *** 990 (138) 852 Foreign Current Deferred ...... 2,05 33 Total $15,685 a. What amount of income tax expense does Apple report in its income statement for 2016? b.How much of Apple's income tax expense is current (as opposed to deferred)? c. Why do deferred tax assets and liabilities arise? How do they impact the tax expense that Apple reports in its 2016 income statement