Round 1:
M.Bison got powerful enough to defeat Raiden
Ryu keeps distance with Hadoken's, but once Shredder reaches Ryu he injures Ryu in a few seconds
One Spear and Splinter is injured too.
Round 2:
Raiden has enough durability to play with time. He slows and paralyzes Bison and manages to defeat him.
Ryu can survive a few more hits, but Shredder is unstoppable and reach barely affected by the Hadoken's Ryu and defeat him with blades in 15 seconds.
Splinter got enough durability to survive a few of Shao's crushers and even has chances to win.
Round 3:
Raiden is a god after all. He defeats Bison.
Ryu is strong, but Shredder is just too much for him.
Splinter can fight quite well, but Shao Kahn's dragon hand can squash Splinter's bones.
Villians win