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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

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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 begon 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. 10,000,000 should be entered as 10.) Year 2009 2010 2011 VOLUNTEERS INC RAIDERS INC (5 in million) (5 in million) Net Retained Net Retained Income (Loss) Earnings Income (Loss) Earnings $ 0 5 32 s 11 13 100) (5) 61 24 46 118 85 13 118 (148) (50) 560 57 342 93 343 145 2012 2013 2014 2015 2016 2017 2018

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