Exercise 3-15 (Algo) Calculate the balance of retained earnings (LO3-5) Below are the restated amounts of net income and retained earnings for Volunteers Incorporated and Raiders Incorporated for the period 2015 to 2024. Volunteers began operations in 2016, 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.) VOLUNTEERS INCORPORATED RAIDERS INCORPORATED (S in millions) ($ in millions) Year Net Income Retained Net Income (Loss) Earnings (Loss) Retained Earnings 2015 $ 0 $ $ 26 $ 11 2016 21 (52) 2017 (7 52 2018 32 54 2019 126 93 2020 21 126 2021 (140) (51) 2022 568 65 2023 350 101 2024 351 153