E6-17 (Algo) Analyzing Break-Even and Target Profit [LO 6-1, 6-2) Tommy's Tile Service is planning on purchasing new tile cleaning equipment that will improve their ability to remove tough stains from ceramic tiles. The company's contribution margin is 25% and its current break-even point is $357,200 in sales revenue. Purchasing the new equipment will increase fixed costs by $8,500. Required: 1. Determine the company's current fixed costs. 2. Determine the company's new break-even point in sales. 3. After the purchase of the equipment, how much revenue does the company need to generate a profit of $110,000? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the company's current fixed costs. Fixed cost Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the company's new break-even point in sales. Break-even point in sales