Please answer all three parts since theyre all one question.

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 Bikes Mountain Racing Bikes Total Bikes Sales Variable manufacturing and selling expenses Contribution margin Fixed expenses: $. 916,000 $261,000 $. 402,000 $. 253,000 466,000 450,000 146,000 115,000 195,000 207,000 156,000 97,000 400 Advertising, traceable Depreciation of special equipment Salaries of product-line managers Allocated common fixed expenses* 40,400 7,700 38,100 80,400 166,600 70,000 8,900 20,700 15,900 35,900 44,000 20,400 114,500 40,500 183,200 411,700 122,000 52,200 Total fixed expenses Net operating income (loss) 123,100 $ 38,300 24,000 $ 40,400 $(26,100) 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