Roan Smith is considering starting a Web-based educational business, e-Prep MBA. He plans to offer a short-course review of accounting for students entering MBA programs. The materials would be available on a password-protected Web site; students would complete the course through self-study. Smith would have to grade the course assignments, but most of the work would be in developing the course materials, setting up the site, and marketing. Unfortunately, Smith's hard drive crashed before he finished his financial analysis. However, he did recover the following partial CVP chart: (Click the icon to view the partial CVP chart.) Read the requires Graph/Chart Requirement 1. fixed costs line, o before selecting I costs line, ge each graph 70000- 600007 OA. 50000 G 400007 30000 Dollars 70000 60000 50090 Total Cost 40000 Break 30000 Fixed 20000 200007 Operating Income Breakeven Tota Fixed Costs Sales Rei 10000 014 0 100 200 300 400 500 600 700 Get More H leck Answer 1. Label each axis, the sales revenue line, the total costs line, the fixed costs line, the operating income area, and the breakeven point. 2. If Smith attracts 300 students to take the course, will the venture be profitable? Explain your answer. 3. What are the breakeven sales in students and dollars