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Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2009-2018. Volunteers began operations in 2010, 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 (i.e., 10,000,000 should be entered as 10).) Year VOLUNTEERS INC. RAIDERS INC. ($ in millions) ($ in millions) Net Retained Net Retained Income (Loss) Earnings Income (Loss) Earnings $ 0 $ 27 $ 10 18 (55) (6) 66 29 51 2009 2010 2011 2012 2013 2014 2015 123 90 18 123 (143) (54) 2016 565 62 2017 98 347 348 2018 150 During the course of your examination of the financial statements of Trojan Corporation for the year ended December 31, 2018, you come across several items needing further consideration. Currently, net income is $92,000. a. An insurance policy covering 12 months was purchased on October 1, 2018, for $19,200. The entire amount was debited to Prepaid Insurance and no adjusting entry was made for this item in 2018. b. During 2018, the company received a $3,200 cash advance from a customer for services to be performed in 2019. The $3,200 was incorrectly credited to Service Revenue. c. There were no supplies listed in the balance sheet under assets. However, you discover that supplies costing $2,350 were on hand at December 31, 2018. d. Trojan borrowed $62,000 from a local bank on September 1, 2018. Principal and interest at 12% will be paid on August 31, 2019. No accrual was made for interest in 2018. Required: Using the information in a through d. above, determine the proper amount of net income as of December 31, 2018. (Amounts to be deducted should be indicated with a minus sign.) Net income (unadjusted) a. Adjustment for insurance b. Adjustment for deferred revenue c. Adjustment for supplies d. Adjustment for interest Net income (adjusted)