Below are the restated amounts of net income and retained earnings for Company A and Company B for the period Year 1Year 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.)

Required: Calculate the balance of retained earnings each year for each company. Neither cc answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be de 9 Company A Company B ($ in millions) ($ in millions) Net Retained Net Retained Year Income (Loss) Earnings Income (Loss) Earnings Year 1 $ 0 $ 30 $ 10 Year 2 $ 15 15 (58) Year 3 (6) 64 Year 4 26 35 48 Year 5 120 155 87 Year 6 15 170 120 Year 7 (146) 24 (57) Year 8 562 586 59 Year 9 344 930 95 Year 10 345 1,275 147