\Need help with the last requirement. I have it partially completed. Thanks!

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 $ 937,000 $269,000 $ 408,000 $ 260,000 457,000 115,000 191,000 151,000 480,000 154,000 217,000 109,000 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 (loss) 70,000 8,300 41,000 20,700 43,900 21,000 7,500 15,400 114,900 40,300 38,700 35,900 187,400 53,800 81,600 52,000 416,200 123,400 168,800 124,000 $ 63,800 $ 30,600 $ 48,200 $(15,000) *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 1 Required 2 Required 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. Sales $ Totals 937,000 457,000 480,000 Dirt Bikes $ 269,000 115,000 154,000 Mountain Bikes Racing Bikes $ 408,000 $ 260,000 191,000 217,000 260,000 Variable manufacturing and selling expenses Contribution margin (loss) Traceable fixed expenses: Advertising, traceable Depreciation of special equipment Salaries of the product line managers Total traceable fixed expenses Product line segment margin (loss) Common fixed expenses Net operating income (loss) 0 480,000 0 154,000 0 217,000 L $ $ $ 260,000 | $ 480,000