Below are the restated amounts of net income and retained earnings for Volunteers Incorporated and Raiders Incorporated for the period $2015$ to $2024.$ Volunteers began operations in $2016,$ 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 $10).$ Amounts to be deducted should be indicated by a minus sign.$)$Exercise $3-15($Algo$)$ Calculate the balance of retained earnings $($LO$3-5)$

Below are the restated amounts of net income and retained earnings for Volunteers Incorporated and Raiders Incorporated for the

period $2015$ to $2024.$ Volunteers began operations in $2016,$ 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 $10).$ Amounts to be deducted should be indicated by a minus sign.$)$