Emerald Corporation, a calendar year and accrual method taxpayer, provides the following information and asks you to prepare Schedule M-1 for 2016: The following information for 2016 relates to Sparrow Corporation, a calendar year, accrual method taxpayer. Based on the above information, use Schedule M-l of Form 1120, which is available. on the IRS website, to determine Sparrow s taxable income for 2016