Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 20122021. Volunteers began operations in 2013, 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.

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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.) VOLNTEE ERS INC. in millions) Retained Earnings Year Income (Loss) (Loss) Earnings 24 2012 %24 33 12 2013 28 (45) 2014 60 (5) 2015 61 39 133 2016 100 133 2017 28 (44) 2018 (133) 2019 575 72 357 2020 108 2021 160 358 5 of 18 Next>