Theory:

"Taro's Reward" is a short story adapted from a Japanese story. The story talks about Taro, a young Japanese woodcutter, whose love and care towards his parents fetched him good fortune.
 
The characters who appear in the story are:
  1. Taro
  2. Taro's father
  3. Lady from the neighbourhood
  4. Villagers
  5. Emperor of Japan
  6. Taro's mother (a character who is mentioned in the story but doesn't appear in the plot)
There are two major non-living characters in the story. They are:
  1. Saké
  2. The magic waterfall
The moral of the story makes it an ideal choice for the parents to read it to their children while the magical elements in it makes the story appealing to the children.
 
The following video is a pictorial rendition of "Taro's Reward".
 
Reference:
video courtesy: https://www.youtube.com/watch?v=TSSS4vzcnOg&ab_channel=ikenschool.