" Who does 'I' refer to in this story? "

What does TFM refer ?

“He stood on his head in delight.” (i) Who does ‘he’ refer to? (ii) Why was he delighted?

Answer the following with reference to the story. 1. “I wouldn’t throw it away.” (i) Who says these words? (ii) What does ‘it’ refer to? (iii) What is it being compared with by the speaker?