Use Apple for this

• List the deferred tax assets that have been recorded on the companys financial statements in each of the last three fiscal years.
  • Explain how these items created the deferred tax assets
  • Explain how the company might recover the benefit of these deferred tax assets in the future.
    • Describe the potential timing of this recovery.
  • Identify the companys valuation allowance on its deferred tax assets, including any changes to this allowance in the past three fiscal years.
    • Explain what this valuation allowance and any changes to it indicates about the companys future earnings prospects.
  • Identify the deferred tax liabilities that have been recorded on the companys financial statements in each of the last three fiscal years.
    • Interpret how these items created the deferred tax liabilities.
  • Explain under what circumstances this deferred tax liability may become payable and the potential timing of this payment.
  • Identify any changes in accounting assumptions that impacted the deferred tax assets or deferred tax liabilities (e.g., changes to depreciation methods, changes in inventory methods, etc.).
  • Calculate the companys debt-to-equity ratio under the following conditions:
    • Classify deferred tax liabilities as debt.
    • Classify deferred tax liabilities as equity.
    • Exclude deferred tax liabilities from both debt and equity.
  • Classify the deferred tax liabilities as debt or equity (or neither) for purposes of analyzing the company.
    • Provide justification for your decision.
  • Compare the companys provision for income taxes to the companys cash tax payments in each of the three fiscal years.
    • State at least three factors that might contribute to increased or decreased cash tax payments in the next fiscal year for this company.