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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: Sales Total $ 931,000 Dirt Bikes $ 270,000 119,000 Mountain Bikes $ 403,000 204,000 Racing Bikes: $ 258,000 157,000 480,000 Variable manufacturing and selling expenses Contribution margin Fixed expenses: 451,000 151,000 199,000 101,000 Advertising, traceable. 69,700 8,500 40,900 20,300 43,700 20,700 7,200 15,800 Depreciation of special equipment Salaries of product-line managers Allocated common fixed expenses Total fixed expenses 115,400 40,500 38,300 36,600 186,200 54,000 80,600 51,600 124,300 415,000 123,700 167,000 Net operating income (loss) $ 36,000 $ 27,300 $ 32,000 $ (23,300) "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 What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? Required 1 Required 2 > THEY HAMLA p M www. 115,400 Salaries of product-line managers Allocated common fixed expenses" Total fixed expenses 186,200 40,500 54,000 123,700 38,300 00,600 167,000 www. 36,600 51,600 124,300 415,000 Net operating income (loss) $36,000 $ 27,300 $ 12,000 $ (23,300) "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. Totals Dirt Bikes Mountain Bikes Racing Bikes Contribution margin (loss) Traceable fixed expenses Total traceable fixed expenses Product line segment margin (loss) Net operating income (ons)