The Regal Cycle Company manufactures three types of blcycles-a dirt bike, a mountain bike, and a racing bike. Data on sales expenses for the past quarter follow: *Allocated on the basls of sales dollars. Management is concerned about the continued losses shown by the racing blkes and wants a recommendation as to whether the line should be discontinued. The speclal equipment used to produce racing bikes has no resale value and does not wear 0 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 lons profitability of the varlous product lines. Complete this question by entering your answers in the tabs below. What is the financial advantage (disadvantage) 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? Should the production and sale of racing bikes be discontinued? 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