Presented in alphabetical order, the following data are from the accounting records of Vladimir Corporation at December 31, 2024:

Accounts payable ............................................................................................. $ 85,000 

Accounts receivable ............................................................................................68,000 

Accumulated depreciation—equipment......................................................... 92,000 

Accumulated other comprehensive income, January 1, 2024..................... 28,000 

Allowance for doubtful accounts ......................................................................4,000 

Bonds payable 4%, due January 1, 2029 ........................................................250,000 

Cash ....................................................................................................................150,000 

Common shares (no par value, unlimited authorized, 200,000 issued)... 250,000 

Depreciation expense........................................................................................ 28,000 

Dividend revenue .................................................................................................9,000 

Equipment ..........................................................................................................288,000

Income from investment in associate............................................................. 31,000 

Income tax expense ...........................................................................................79,290 

Income tax payable .............................................................................................16,000 

Interest expense .................................................................................................12,500 

Interest payable ....................................................................................................5,000 

Interest revenue ....................................................................................................3,300 

Investment in associate ...................................................................................215,000 

Investment income or (loss) ...............................................................................3,600 

Investments at amortized cost—bonds due 2026 .........................................36,000 

Investments at FVTOCI—equity..................................................................... 185,000 

Investment at FVTPL—bonds........................................................................... 82,500 

Investment at FVTPL—equity ............................................................................37,000 

Notes receivable—due ...............................................................................2027 75,000

Other comprehensive income—holding gain, net of $3,600 tax $ ................12,000 

Rent expense .........................................................................................................45,000 

Retained earnings, December 31, 2024........................................................... 394,500 

Salaries expense ...................................................................................................335,000 

Service revenue .....................................................................................................651,000

Instructions 

Prepare a statement of comprehensive income and balance sheet at December 31, 2024. 

Calculate the return on equity for Vladimir Corporation on December 31, 2024. Total shareholders’ equity on December 31, 2023, was $605,100. Comment on Vladimir’s performance assuming that the industry average is 36%.