The Regal Cycie Conparty manufactures three typers of bicycles a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter follow: thillocated on the basis of sales doilars. Management is concerned about the cominued losses shown by the racina blkes and wants a recorvmendation as to whether or not the hioe should be dihcontmoed, The speclat equipment used to produce racing bkes has no resale value and does not wear out Required 1. What hi the financial advantage (disadvantage) per quarter of dicontinuing the Racing Bkes? 2 Should the groduction and sale of racing bikes be discontinged 7. Prepare a propely formatted segmented income statement that woudd be more useful to management in assessing the long rum Motitab ty of the various prodict lines Required: 1. What is the financlal 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 varlous product lines. Complete this question by entering your answers in the tabs below. What is the financial advantage (disadventago) per quarter of discontinuing the Racing Bikes? Complete this question by entering your answers in the tabs below. Should the production and sale of racing bikes be discontinued? Prepare a properly formatted segmerted income statement that would be more useful to management in assessing the long-run profitability of the various product lines