The new tax law calls for immediate expensing of certain qualified business assets rather than depreciating them over a longer time period. How will that affect

(1)a companys physical stock of assets,

(2)a firms balance sheet account for fixed assets,

(3) a companys reported net income, and

(4) a companys cash position?

In your responses, assume that the same depreciation method is used for stockholder reporting and for tax calculations and that the accounting change has no effect on assets physical lives.