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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: Dirt Mountain Racing Total Bikes Bikes Bikes $926,000 $262,000 $405,000 $ 259,000 465,000 116,000 197,000 152,000 461,000 146,000 208,000 107,000 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 (1033) 68,800 8,300 40,200 20,300 43, 100 20,600 7,400 15, 100 116,300 40,700 38,800 36,800 185,200 52,400 81,000 51,800 413, 400 122,000 167,400 124,000 $ 47,600 $ 24,000 $ 40, 600 $ (17,000) "Allocated on the basis of sales dollars. ES 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. Com