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 ($ in millions) ($ in millions) Year Net Income (Loss) Retained Earnings Net Income (Loss) Retained Earnings 2015 $ 0 $ 0 $ 30 $ 12 2016 25 (48) 2017 (5) 56 2018 36 58 2019 130 97 2020 25 130 2021 (136) (47) 2022 572 69 2023 354 105 2024 355 157