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

Question

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 10).) 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 VOLUNTEERS INC RAIDERS INC ($ in millions) Net (S in millions) Retained Net Retained Year Income (Loss) Earnings Income (Loss) Earnings 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 34 S 12 (62) 59 83 116 (61) 116 (150) 558 340 341 91 143

Explanation / Answer

Volunteers inc Raiders inc income Retained income Retained (loss) Earnings (loss) Earnings 2009 - 0 34 34 2010 11 11 -62 -28 2011 -7 4 59 31 2012 22 26 44 75 2013 116 142 83 158 2014 11 153 116 274 2015 -150 3 -61 213 2016 558 561 55 268 2017 340 901 91 359 2018 314 1215 143 502

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.