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Mr. Morley attended horse shows to learn about the horse-
breeding business. He also showed his horses at these events and
won several ribbons. After initially hiring a local trainer, Mr.
Morley hired a professional trainer to show and care for his
horses. Additionally, Mr. Morley maintained a booth at the horse
shows displaying the farm logo, the promotional materials, and
ribbons that the horses had won.
Mr. Morley made "notices" with information on each of his
horses. These notices contained the name, registration number,
breed, color, sex, and price of the horses for sale. The notices
also contained information on who the horse was "in foal to"
(i.e., to whom the horse was bred and when the foal was due).
Mr. Morley advertised the horse-breeding activity in various
equine periodicals. He provided notices and narratives about his
horses to potential purchasers. He also prepared, for
prospective customers, a document containing a cost analysis of
raising a horse.
All year round, Mr. Morley worked 4 days a week at his
dental practice and 7 days a week on the farm. During the fall,
winter, and spring, he spent 40 hours a week at his dental
practice and 10 to 20 hours on the horse-breeding activity. In
the summer, Mr. Morley worked 40 hours on the farm and 32 hours
at his dental practice.
Mr. Morley personally handled many horse-breeding activity
duties. He fenced the farm, repaired equipment, cleaned the
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