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HORSE VET, LLC: TRANSACTION ANALYSIS AND STATEMENT OF CASH FLOWS PREPARATION (OPTION 2) Part I Sam Birch, like his brother Jeff (who owned Dog Concierges, LLC), was a financial novice. His passion, though, was horses, and after years of vet school, interning, and working for other horse vets, he had finally started his own veterinary practice in Virginia horse country. In its first five years, Horse Vet, LLC, had grown to about $1,000,000 in client billingsa major accomplishment he was deservedly proud of. Just as his brother had done with his business, Sam had put all his company's financial concerns in the hands of their sister, Jennifer Birch, now a successful CPA 500 miles away. Sam believed he was modestly accomplished when it came to crafting a financial story reflective of his business activities and accomplishments. He thought, however, that he needed an Accounting 101 refresher so that he could cement his understanding of the process of preparing and interpreting a basic set of business financial statements. Such an understanding would be key when he talked to his tanker next month about a $400,000 line of credit he needed to expand his business into two adjoining counties. HORSE VET, LLC: TRANSACTION ANALYSIS AND STATEMENT OF CASH FLOWS PREPARATION (OPTION 2) Part I Sam Birch, like his brother Jeff (who owned Dog Concierges, LLC), was a financial novice. His passion, though, was horses, and after years of vet school, interning, and working for other horse vets, he had finally started his own veterinary practice in Virginia horse country. In its first five years, Horse Vet, LLC, had grown to about $1,000,000 in client billingsa major accomplishment he was deservedly proud of. Just as his brother had done with his business, Sam had put all his company's financial concerns in the hands of their sister, Jennifer Birch, now a successful CPA 500 miles away. Sam believed he was modestly accomplished when it came to crafting a financial story reflective of his business activities and accomplishments. He thought, however, that he needed an Accounting 101 refresher so that he could cement his understanding of the process of preparing and interpreting a basic set of business financial statements. Such an understanding would be key when he talked to his tanker next month about a $400,000 line of credit he needed to expand his business into two adjoining counties