The Regal Cycle Company manufactures three types of bicycles-a dirt bike, a mountain bike, and a racing bike, Data on sales ond expenses for the past ctiorter follow: 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 niot 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 blkes be discontinued? 3. Prepare a ptoperly formatted segmented income statement that would be more useful to managernent in assessing the long-run profitabilty of the various product lines Complete this question by entering your answers in the tabs below. Whot is the financial advantage (disadvantage) per quarter of discontinuing the Racing Blkes? Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-run profitabilty of the various product lines