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Below are the restated amounts of net income and retained earnings for Company A and Company B for the period Year 1-Year 10 Volunteers began

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Below are the restated amounts of net income and retained earnings for Company A and Company B for the period Year 1-Year 10 Volunteers began operations in Year 2, 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.) Company A Company B (5 in millions) 1$ in millions Net Retained Net Retained Year Income (Loss) Earnings Year 1 Earnings Income (Loss) $ 0 $ 28 (56) Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 149

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