Copy Row Above In Empty Cells

Suppose I have a column with a lot of different hours in each cell. I have already inserted a blank line between each cell in this columm and know I need to repeat the hour just above the blank cell onto the blank cell,like the example below:

Present worksheet:

00:08:32 8765.987 7654.876
xxxxx blank linexxxxx
01:35:41 123.456 9876.543
xxxxx blank linexxxxx

Future worksheet:

00:08:32 8765.987 7654.876
00:08:32 7654.876 xxxxxxxxx
01:35:41 123.456 9876.543
01:35:41 9876.543 xxxxxxxxx

So, in brief steps, I need to:
1. insert blank lines between each row
2.copy the content of the cell of the first column (just above the blank line) to the cell just below it, in order to repeat the time
3.copy the content of the cell of the third column (just above the blank line) to the cell in column 2 (on the blank cell in column 2 of the blank line just created)