Income statement Requirement 1. Show corrected income statements for each of the three years. (Enter amounts in millions as provided in the problem statement.) J. L. Video Sales Ltd. Income Statements (adapted; amounts in millions) For the Years Ended December 31, 20X3, 20X2, and 20X1 Net sales revenue Cost of goods sold: Beginning inventory Coods of avases Gross profit Total operating expenses Net income How much did these assumed corrections add to or take away from J. L.'s total net income over the three-year period? The assumed corrections over the three-year period. How did the corrections affect the trend of net income? The corrections Requirement 3. Will J. L.'s shareholders still be happy with the company's trend of net income? Give a reason for your answer. Will J. L.'s shareholders still be happy with the company's trend of net income? The shareholders be happy with the trend of net income because the company is