The Garden Spot: Year One It was almost midnight on December 31, and Mary Jo Barnes was reflecting on her first year as owner and manager of The Garden Spot, a small garden shop she had opened on January 1 in Charlottesville, Virginia. She and her husband, Josh, had both worked in a large city in the northeastern United States for the past 10 years and had decided to relocate to Charlottesville to establish a different lifestyle. Barnes had a degree in horticulture and wanted to devote her working days to something she enjoyed and was passionate about. So she decided to start her own business and opened a small retail garden shop selling plants, trees, shrubs, and flowers.

Barnes recalled what a busy day she had on that first day in January:

After breaking for a quick lunch at the local sandwich shop, she had visited a local used car dealer and had purchased a truck for $12,000 cash. The truck appeared to be in excellent condition, and Barnes expected she would be able to use it for five years. Next, she had gone to a local hardware store to buy the necessary equipment for her business, paying $10,000 cash for equipment she also expected she would use for five years.

She had been incredibly busy that first year. The Garden Spot had engaged in so many activities that Barnes could hardly remember them all. Fortunately, she had kept all receipts and had made good notes. As she looked through them, she made a list of what had occurred during that year:

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