The Regal Cycle Company manufactures three types of bicycles - a dirt bke, a mountain bike. and a racing bike. Data on sales and expenses for the post quarter follow: 'Alocated on the basis of sales dollars Management is conceined about the contimued losses shown by the rachg bikes and warts a recommendaton as to whether or not the line should be disconthued The speclal equipment used to produce racing bikes hass no resale value and does not wear out. Required: What is the financial advantage (disactuantege) per quarter of ciscontinuing the Racing Bakes? 2. Should the production and sale of racing bikes be discontinued? 3. Prepare a properly formatted segmented income statement that woudd be more useful to mandgemient in assessing tbe long-nin protitnbity of the vailous product lines. Complete this question by entering your answers in the tabs below. What is the finandal atfantage (disadyantagh) pe- quafter of ciscontind og the Rdid eBkes? Complete this question by entering your answers in the tabs below. 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