Walkthrough
Bomb guys are pretty easy. Their head-butt attack, although red, can be interrupted with normal attacks. The bombs they throw damage each other (and the statue); just keep an eye out for them. You can also punch them to throw them back.
The statue has 3 attacks depending on where you are. If you stand any distance far away from him he will wind up and shoot big tornados. They don’t do much damage, but they swirl up all the bombs on the stage which can kill you pretty quickly. Standing close to his right, he will stomp his leg. The actual foot will damage you even if you are airborne, so you need to move to his left and be airborne when the shockwave hits. If you stand close at his right, he will sweep with his hand. You can either roll straight back, to the left (way far to the left) or block it (it will stagger you). Chi attacks cause him to stagger and interrupt any attack he is doing.
The fastest way to beat him is to throw bombs at him. You can also equip upgraded light boots, do as much jump attacks as you can, then bicycle kick all the way down.