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Retained Earnings to reflect the net income in AX 2012?

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Hi, when I run the balance sheet, I notice that the 'Retained Earnings' does not include the 'Net Income' (it just shows the P/L amount brought forward from previous year as we close that year).   Is there a way in AX to automatically update this RE account with the net-income (which is derived from net sales minus expenses etc).

Appreciate your thoughts. Thank you  


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