Question: Below are the restated amounts of net income and retained earnings for Volunteers Inc. and Raiders Inc. for the period 2003-2012. Volunteers began operations in 2004.
![2193_Volunteer.png](https://secure.tutorsglobe.com/CMSImages/2193_Volunteer.png)
Required: Calculate the balance of retained earnings each year for each company. Neither company paid dividends during this time.