The Regal Cycle Company manufactures three types of bicycles - a dirt bke. a mountain bike, and a rocing bke Dato on sales and expenses for the past quarter follow Management is concomed obout the continued losses shown by the racing bakes and wants a recommendation as to whether or not the line stiould be discontinued. The special equprent used to prodoce rocing bikes has no cesale value and does not weor out Required: 1. What is the financial advantoge (disoovartege) per cuarter of discontinuing the Racing fikes? 2 Should the production ond sale of rocing bikes be discontinued? 3. Prepore a properly formatted sogmemed income statement that would be more usetuc to manogemont in assessing the long run profitability of the vanous product lines Complete this question by entering your answers in the tabs below. What is the finandal advantage (dsadrantagh) per quarter of fisctotmuing the nacieg Eakes) Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long run profitablity of the various product lines