Question: ework Chapter 3 Saved Help Save & Exit Subml Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders
ework Chapter 3 Saved Help Save & Exit Subml 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 (ie., 10,000,000 should be entered as 10).) + VOLUNTEERS INC. RAIDERS INC 15 in millions) ($ in millions) Net Retained Net Retained Year Income (Loss) Earnings income (Loss) Earnings 2009 $ 01 $ 30 $ 10 2010 15 (58) 2011 (6) 64 2012 26 48 2013 120 87 2014 15 120 2015 (146) (57) 2016 562 50 2017 344 951 2018 345 1471
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