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The Regal Cycle Company manulectures three types of bicycles a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow: Allocated on the basis of soles dollars. Management is concerned about the continued losses shown by the racing bakes and wants a recommendation as to whether or not the lane should be discontinued. The special equipment used to produce racing bises has no resale value and does not weat out Required: What is the financial odvantage (disodvantage) per quarter of discontinuing the Racing Bikes? 2. Should the production and soie of rocing bikes be discontinued? 3. Prepare a properly formatted segmented inceme statement that would be more useful to management in assessing the iong-run prontobility of the various product lines. Complete this question by entering your answers in the tabs below. What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? Complete this question by entering your answers in the tabs below. Should the production and sale of racing bikes be discontinued? Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long profitability of the various product lines