The balanced equation is: Fe + CuSO4 => FeSO4 + Cu Reducing agent is Fe since it is oxidized (oxidation state of Fe increases from 0 to +2) Oxidizing agent is CuSO4 since it is reduced (oxidation state of Cu decreases from +2 to 0) Solution The balanced equation is: Fe + CuSO4 => FeSO4 + Cu Reducing agent is Fe since it is oxidized (oxidation state of Fe increases from 0 to +2) Oxidizing agent is CuSO4 since it is reduced (oxidation state of Cu decreases from +2 to 0).