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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.)

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Below are the restated amounts of net income and retained earnings for.pdf

  • 1. 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.)