Final answer:
To determine Packard's year 2 assets amount on the balance sheet, specific financial data is required. The question lacks these details, thus it's not possible to calculate the amount. However, if referring to Singleton Bank, the total assets would be $10 million based on provided figures.
Step-by-step explanation:
To determine the amount of assets that will be reported on Packard's balance sheet at the end of year 2, we would need to evaluate Packard's asset changes based on the information provided. A balance sheet records a company's assets, liabilities, and shareholders' equity at a specific point in time.
Unfortunately, the question does not provide specific data for Packard's year 2 assets, but it references figures for Singleton Bank.
However, for Packard's balance sheet, without the specific year 2 financial data, it is not possible to provide the correct amount for the assets on the balance sheet.