The fegal Cycle Company manufactures three byes of bicycles-a dirt bike, a mountain bike, and a racing bike. Oata on sales and expenses for the past quarter follow: Xllocated on the basis of sales dotars. Management is concerned about the continuod loswes showm by the facing bikes and wants a recommendotion as to whether oe not the fine sbould be discontinued. The special equipment used to produce facing bikes has no resalo value and does not wear out. Required: 1. What is the financial advantage (disodvantsge) per quarter of discontinuing the Racing bikes? 2. Strould the production and sale of tacing bkes be discontinued? 3. Propore a properly formatted segmeoted income statement that would be more useful to mandgement in assesaing the long-tun peotitability of the varieus product ines. Complete this question by entering your answers in the tabs below. 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. Prepare a propery formatted segmented income statement that would be more useful to manajement in assessing the long-run profitability of the various product lines