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Exercise 11.2 (Algo) Dropping or Retaining a Segment [LO11-2] The Regal Cycie Company manufactures three types of bicycles-a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses for the past quarter tollow: Allocated on the basis of sales dollars. Management is concemed 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: Management is concerned about the continued losses shown by the racing bikes and wams a recommendation as to whether or not the line should be discontinued. The special equipment ised to prodice facing bikes has no fesale yalue and does not wiear out Required: 1. What is the financial advantoge (disadvantage) per quartet of discontinting 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 askessing the long-run profitability of the various procuct lines. Complete this question by entering youl answers in the tabs telow. What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? "Allocated on the basis of sales dollars. Management is concemed about the continued losses shown by the racing bikes and wants a recommendation as to whether or ni 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 bikes be discontinued? 3. Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-rur profitability of the various product lines. 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 statement that would be more useful to management in assessing the long-run rofitability of the vanious product lines