Final answer:
The question asks for an explanation of the components of Singleton Bank's balance sheet, which includes reserves, loans, and deposits, reflecting changes due to a business plan adjustment.
Step-by-step explanation:
The question pertains to a change in Singleton Bank's balance sheet, which is a financial statement summarizing a company's assets, liabilities, and shareholders' equity at a specific point in time. In this case, Singleton Bank has altered its assets, now holding $1 million in reserves and providing a $9 million loan to Hank's Auto Supply. The bank's liabilities remain at $10 million in deposits. A balance sheet must always balance, with assets equal to the sum of liabilities plus shareholders' equity. It is an essential tool for understanding a business's financial health and for making informed decisions.