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...

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Extracted text: 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 (1.e., 10,000,000 should be entered as 10). Amounts to be deducted should be Indicated by a minus sign.) VOLUNTEERS RAIDERS INCORPORATED INCORPORATED ($ in millions) Year ($ in millions) Retained Earnings Net Income (Loss) Net Income Retained (Loss) Earnings 2015 $ %24 0 $ 25 $ 10 2016 20 (53) 2017 (6) 51 2018 31 53 2019 125 92 2020 20 125 2021 (141) (52) 2022 567 64 2023 349 100 2024 350 152