Check my work 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. Sales Variable manufacturing and selling expenses Contribution margin Fixed expenses: Advertising, traceable Depreciation of special equipment Salaries of product-line managers Allocated common fixed expenses Total fixed expenses Net operating income (loss) Dirt Mountain Rating Total Bikes Bikes Bikes $925,088 $263,800 $ 487, e88 $ 255,888 471,888 128,888 197,880 154, ere 454, 088 143,800 218, eee 101,883 69,988 8,780 40, 688 20,6ee 43,488 20,988 7,388 15, 282 115,388 41,080 38,180 36,288 185,898 52,600 81, 4ee 51 Be8 413,608 123,200 167,488 123,888 $ 48,488 $ 19,888 $ 42,688 $(22,888) "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 property formatted segmented Income statement that would be more useful to management In assessing the long-run profitability of the various product lines. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? Required 2 >