requirements 1-3 would be helpful!

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 5 925,000 $262,000 $ 405,000 $ 258,000 476,000 120,000 197,000 159,800 449,000 142,000 208,000 99,eee Sales Variable manufacturing and selling expenses Contribution margin Fixed expenses Advertising, traceable Depreciation of special equipment Salaries of product line managers Allocated common fixed expenses Total fixed Xpan Net operating in loss 69,000 8,500 40,200 20,300 43,200 20,900 7,200 15, 100 116,600 40,900 38,900 36,800 185,000 52,400 81,000 $1,600 413,800 122,700 167300 123,800 $ 35,200 $ 19,300 $ 40,700 $(24,800) "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 1 Required 2 Required 3