Allow me to step in, lawsonmoea.

Yes. In addition to john-pero's advice, retained earnings are affected by increases or decreases in net income and dividends paid to your shareholders. 

This guide to Retained Earnings has outlined the most importing things you need to know:

• View Retained Earnings account details
• What Are Unappropriated Retained Earnings?
• Understanding Equity: What Are Retained Earnings?

Keep me posted if you have further questions. I'll be here to answer them. Take care.