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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. Dirt Mountain Racing Total Bikes Bikes Bikes Sales $ 922.000 $ 268 000 $ 401.000 $ 253.000 Variable manufacturing and selling expenses 467,000 113,000 200.000 154.000 Contribution margin 455.000 155.000 201.000 99,000 Fixed expenses: Advertising, traceable 69.700 8.600 40.900 20.200 Depreciation of special equipment 43.800 20,600 7.800 15.400 Salaries of product-line managers 114,300 40,900 38,300 35,100 Allocated common fixed expenses* 184.400 53.600 80.200 50.600 Total fixed expenses 412.200 123 700 167.200 121,300 Net operating income (loss) $ 42.800 5 31,300 $ 33,800 5 (22,300) "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.2a. Prepare a segmented income statement. Answer is not complete Totals Dirt Bikes Mountain Bikes Racing Bikes Sales 669,000% S 268,000/ $ 401,000 Variable manufacturing and selling expenses 313.000X 113.000 200,0004/ Contribution margin (loss) 356,000 155.000 201,000 0 Traceable fixed expenses: Advertising, traceable 49.500X 8,600 40.900 Depreciation of special equipment 28.400X 20,600 7.800 Salaries of the product line managers 79,200% 40,900 38.300 Total traceable fixed expenses 157.100 70.100 87.000 Product line segment margin 198,900 $ 64.900 114,000 5 Common fixed expenses 184.400 Net operating income (loss) 14 500 2b. Would a segmented income statement format be more usable to management in assessing the long-run profitability of the various product lines. Yes O No