The following information was drawn from the annual report of Symphony Harp Builders (SHB). For the Years Year 1 Year 2 $ 751,000 (596,000 $ 821,000 (653,600) 92,600 $ 260,000 $ 155,000 NE Income Statement Revenues Operating expenses "Infrequent item-lottery win Net Income Balance Sheet Assets Liabilities Stockholders uity: Common Stock Retained earnings Totol liabilities and stockholders' equity $1,116,000 $ 260,000 51,116,000 5. 476,000 380,000 $1.116.000 476,000 640,000 $1.11,000 By definition Infrequent items are not likely to recur in the future Required 0-1. Compute the percentage of growth in net income from Year 1 to Year 2 0-2. Can stockholders expect a similar increase between Year 2 and Year 3 NA 0-1. Compute the percentage of growth in net income from Year 1 to Year 2 0-2. Can stockholders expect a similar increase between Year 2 and Year 32 c. Assuming that SHB experiences the same percentage of growth from Year 2 to Year 3 as it did from Year 1 to Year 2 determine the amount of income from continuing operations that the owners can expect to see on the Year 3 income statement d. During Year 3. SHB experienced a $70.000 oss due to storm damage (note that this would be shown as an infrequent item on the income statement) Liabilities and common stock were unchanged from Year 2 to Year 3. Use the information you computed in Requirement plus the additional Information provided in the previous two sentences, to prepare an income statement and balance sheet as of December 31 Year 3 Complete this question by entering your answers in the tabs below. Reg Dine Rea Bal REGAL Reg A2 Reae Stm Sheet Asuming that SHB experiences the same percentage of growth from Year to year as it did from varit Year determine the amount of income from continuing operations that the owners can expect to see on the Year) income statement Ban