46:12) The Regal Cycle Company manufactures three types of bicycles-a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow: ELE Dirt Mountain Racing Total Bikes Bikes Biken Sales S $ 926,000 $266,000 $ 409,000 $ 251,000 Variable manufacturing and selling 4 75.000 114.000 209.000 expenses 152,000 Contribution margin 451.000 152,000 200,000 99.000 Pixed expenses EL Advertising, traceable 70,300 8,700 40.900 20.700 D epreciation of special equipment 44,100 20,600 7.900 15.600 Salaries of product-line managers 114.700 40,200 38.200 36.300 Allocated common fixed expenses. 185,200 53,2008 1,800 50,200 Total fixed expenses 414,300 122,700 268,800 122,800 Net operating income (losa) 36,700 $ 29,300 $ 31,200 $(23,800) k at ces "Allocated on the basis of sales dollars. Management is concerned about the continued losses shown by the racing bikes and wants a recommendation as to whether or not the line should be discontinued. The special equipment used to produce racing bikes has no resale value and does not wear out. Required: 1. What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? 2. Should the production and sale of racing bikes be discontinued? 3. Prepare a properly formatted segmented Income statement that would be more useful to management in assessing the long-run profitability of the various product lines