Given the following information, compute the retained earnings balance for Farah's Tax Service for the month of October, 2012.
Definitions:
Debt/Equity Ratio
A financial ratio indicating the relative proportion of shareholders' equity and debt used to finance a company's assets.
ROE
Return on Equity, a measure of financial performance calculated by dividing net income by shareholders' equity, indicating how efficiently a company is using its equity to create profits.
P/E Ratio
The price-to-earnings ratio, a valuation metric for assessing a company's current share price relative to its per-share earnings.
Financial Statements
Documents that report on a company's financial performance and situation, including the balance sheet, income statement, and cash flow statement.
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