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Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2012-2021. 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 2012-2021. Volunteers began operations in 2013, while Raiders began several years earlier. Required: Calculate the balance of retained earnings each year for each compdny. 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.) Year 2012 2013 VOLUNTEERS INC. RAIDERS INC. ($ in millions) ($ in millions) Net Retained Net Retained Income (Loss) Earnings Income (Loss) Earnings $ 0 $ 26 $ 11 $ 21 (52) (7) 52 32 54 126 93 21 126 (140) (51) 65 2014 2015 2016 2017 2018 568 101 2019 2020 2021 350 351 153

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