The Regal lCycle ICompany manufactures three types of bicyclesa dirt bike. a mountain bike, and a racing bike. Data on sales and expenses for the past guaiter follow: Mountain Total Dirt Bikes Bikes Racing Bikes Sales S i331,3\"2'93 5 265,333 5 438,333 5 258,333 Variable manufacturing and selling expenses 434,333 113,333 133,333 155,333 Contribution margin 432,333 143,333 215,333 133,333 Fixed expenses: advertising, traceable 33,833 8,333 43,633 23,333 Depreciation of special equipment 43,333 23,233 3,?33 15,133 Salaries of productline managers 113,833 43,433 38,133 35,333 allocated common fixed expenses\" 183,233 53,333 81,533 51,533 Total fixed expenses 412,833 121,333 138,333 122,333 Net operating income (loss) $ 54,299 5 2?;159 $ 4?;599 $ (19,995) \"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 not 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 quaiter 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 long-run profitability ofthe various product lines. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the nancial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? Financial (disadvantage) per quarter Financial advantage per quarter