please lay out the answer to all 3 parts clearly

Exercise 11-2 Dropping or Retaining a Segment (L011-2] 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 $928,000 $261,000 407,000 $ 260,000 467,000 115,000 194 000 158,00 461,900 146,000 213,000 102,000 Sales Variable manufacturing and selling expenses Contribution margin Fixed expenses Advertising, traceable Depreciation of special equipeet Salaries of product-line managers Allocated common fixed expenses Total fixed expenses Net operating Income (loss) 78.900 9.000 41,000 20,900 43,700 20,780 2,800 15,209 113,600 40 Soe 38,000 35,100 185, 6e 52 200 81.400 52.900 413,800 122,400 168,200 123,200 3147,200 $ 23,600 $ 44,890 (21,200) "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 property 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 2 Required 3 What is the financial advantage (disadvantage) per quarter of discontinuing the racing bikes? Required 2) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Should the production and sale of racing bikes be discontinued? Yes ONO 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 0 0 0 0 Total traceable fixed expenses Product line segment margin (los) 0 0 0 0 $ 0 $ 05 0 Not operating Income (oss) $ 0