Retained Earnings to reflect the net income in AX 2012?

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

Any thoughts on this is really appreciated