Melaleuca, Inc., is an accrual-basis taxpayer with the following transactions during the calendar tax year: Calculate Melaleuca, Inc.'s, net income for this year. s x Foedback T Check Mr Work The tax law requires taxpayers to report taxable income using the method of accounting regularly used by the taxpayer in keeping his or her books, prov the method clearly reflects the taxpayer's income. The cash receipts and disbursements (cash) method, the accrual method, and the hybrid method are accounting methods specifically recognized in the tax law. The accrual method of accounting requires that income be recognized when (1) all events have occurred which fix the right to receive the income, and ( 2 amount of income can be estimated with reasonable accuracy. An expense is deductible in the year in which all events have occurred that determine a lia exists and the amount can be estimated with reasonable accuracy. For this problem, consider what items required adjustment