Multiple Choice
Smiles Entertainment had the following accounts and balances at December 31: 
Using the information in the table,calculate the company's reported net income for the period.
Recognize the impact of mental incompetence, duress, and fraud on the enforceability of negotiable instruments.
Grasp the concept of presentment and its requirements for negotiable instruments.
Distinguish between various types of alterations and their legal implications.
Understand the significance of good faith and consideration in transactions involving negotiable instruments.
Definitions:
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