Final answer:
The balance sheet of Highlight Construction Company would list assets, liabilities, and equity but can't be detailed without specific financial data. A balance sheet is depicted with a T-account, showing assets on one side and liabilities on the other. The example provided is from Singleton Bank, with $1 million reserves, $9 million in loans as assets, and $10 million in deposits as liabilities.
Step-by-step explanation:
The balance sheet of Highlight Construction Company, as president, would list the company's assets and liabilities. Without specific details of the company's financials, an exact balance sheet can't be provided. However, for Singleton's Bank as an example, the alteration in their business plan yields a balance sheet with $1 million in reserves and a $9 million loan to Hank's Auto Supply counted as assets, while they have $10 million in deposits as liabilities. The format for representing a balance sheet is often a T-account, showing assets on one side and liabilities and bank capital (or net worth) on the other.
A balance sheet works as a snapshot of a company's financial standing at a particular point in time. The bank capital or net worth for a bank—or equity for a company like Highlight Construction—is the difference between total assets and total liabilities. Additionally, a bank's assets include cash in vaults and monies at the Federal Reserve, which may similarly correspond to various forms of valuable resources that a construction company might have like cash, equipment, and accounts receivable.