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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

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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 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).) VOLUNTEERS INC. RAIDERS INC. ($ in millions) ($ in millions) Net Retained Net Retained Income (Loss) Earnings Income (Loss) Earnings $ 0 $ 26 $ 12 Year 2009 2010 19 (54) 65 2011 (5) 2012 30 52 2013 124 91 2014 19 124 2015 (142) 566 (53) 63 2016 2017 348 99 2018 349 151

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