South Hampton University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 30 000 students are enrolled on campus. However, the university is forecasting a 5 per cent growth in student numbers in the coming year, despite an increase in fees to $3 000 per subject. The following additional information has been gathered from an examination of university records and conversations with university managers: 1. South Hampton is planning to award scholarships to 200 students, which will cover their fees. 2. The average class has 80 students, and the typical student takes 4 subjects per semester. South Hampton operates 2 semesters per year. 3. The average academic staff salary is $120 000 per annum including on-costs. 4. South Hamptons academic staff are evaluated on the basis of teaching, research, administration and professional/community service. Each of the academic staff teaches the equivalent of three subjects during the academic year. Required: a. Prepare a revenue budget for the upcoming academic year. b. Determine the number of staff needed to cover classes. c. Assume there is a shortage of full-time academic staff. List at least five actions that South Hampton might take to accommodate the growing student numbers