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meWUIR Cldple 3 Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2009-2018 Volunteers
meWUIR Cldple 3 Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2009-2018 Volunteers began operations in 2010, 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).) VOLUNTEERS INC. RAIDERS INC. (5 in millions) (S in millions) Net Retained Net Retained Income (Loss) Earnings Income (Loss) Earnings $ 0 $ 32 $ (60) 61 46 Year 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 118 85 118 13 (148) 560 (59) 57 342 93 3431 145
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