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Exerclse 13-2 (Algo) Dropping or Retalning a Segment [LO13-2] The Regal Cycle Company manufactures three types of bicycles-a dirt blke, a mountain bike, and a racing bike Data on sales and expenses for the past quarter follow. -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 speclal equipment used to produce racing bikes has no resale value and does not wear out. Required: 1. What is the finandal 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 profitablity of the varlous product lines. Complete this question by entering your answers in the tabs below. Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-run profitability of the varous product lines. profitability of the various product lines