Calculate the balance of retained earnings 

 

Below are the restated amounts of net income and retained earnings for Volunteers Incorporated and Raiders Incorporated for the period to Volunteers began operations in while Raiders began several years earlier.

Required:

Calculate the balance of retained earnings each year for each company. Neither company paid dividends during this time. Enter your answers in millions ie should be entered as Amounts to be deducted should be indicated by a minus sign.

Answer rating: 100% (QA)

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