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Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 20092018. Volunteers began operations in

Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 20092018. 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).)

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Year VOLUNTEERS INC. RAIDERS INC. (S in millions) ($ in millions) Net Retained Net Retained Income (Loss) Earnings Income (Loss) Earnings $ 0 $ 27 $ 12 22: (51) (5) 53 33 55 2009 2010 2011 2012 2013 127 94 2014 22 127 2015 (139) 569 (50) 66 2016 2017 351 102 2018 352 154

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