Need help with the following

The Regal Cycle Company manufactures three types of bicyclesa 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 Sales $922,000 $264,000 $407,000 $ 251,000 Variable manufacturing and 472,000 114,000 206,000 152,000 selling expenses Contribution margin450,000 150,000 201,000 99.000 Fixed expenses: Advertising, 69,300 8,600 40,500 20,200 traceable Depreciation of 43,100 20,200 7,500 15,400 special equipment Salaries of product-line 114,500 40,500 38,400 35,600 managers Allocated common 184,400 52,800 81,400 50,200 fixed expenses* Total fixed expenses 411,300 122,100 167,800 121,400 Net operating income $38.700 $ 27,900 $ 33,200 $ (22,400) (loss) *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. Complete this question by entering your answers in the tabs below. Required Required Required 2 3 What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? Financial (disadvantage) per quarter 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. Totals Dirt Bikes Mountain Bikes Racing Bikes 000 Sales Variable manufacturing and selling expenses Contribution margin (loss) Traceable fixed expenses: Depreciation of special equipment Salaries of the product line managers Advertising, traceable Total traceable fixed expenses Product line segment margin (loss) Common fixed expenses Net operating income (loss) 01 $ 0 $ 0 $