The financial statements of M&S are presented in Appendix 5B or can be accessed at the book’s companion website,

Refer to M&S’s financial statements and the accompanying notes to answer the following questions.
(a) What amounts relative to income taxes does M&S report in its:
(1) 2008 income statement?
(2) 29 March 2008 balance sheet?
(3) 2008 statement of cash flows?
(b) M&S’s provision for income taxes in 2007 and 2008 was computed at what effective tax rates?
(c) How much of M&S’s 2008 total provision for income taxes was current tax expense, and how much was deferred tax expense?
(d) What did M&S report as the significant components (the details) of its 29 March 2008 deferred tax assets and liabilities?

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