The Regal Cycle Company manufactures three types of blcycles-a dirt blke, a mountain bike, and a racing bike. Data on sales and expenses for the past quartot foliow: "Alocoted on the basis of sales colilars Maragernent is concemed abcut the contgped losses shown by the racing bikes and wants a recommendaton as to whether or not the line shoold be discontinued The specal equipment used to produce raciog bikes has no resaie vatue and does not wear out Reculied: 1. What is the Ilinncial advantage \{dishdvintage) per quarter of discontinuing the Racing Elikes? 2. Should the production nod sole of rocing blicen be discontinced? 3. Prepare a propery formatied segmented income statement that would be more usetul to mariagement in assossing the long-sun probitability of the various product lines What is the financtal 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? Prepare a properly formatted segmented income stakement that would be more aseful to management in assessing the fong-run profitabdity of the various product lines