Calculate the working capital of Daisy under the percentage-of-completion method versus the completed-contract method.

Daisy Construction Ltd. has entered into a contract beginning January 1, 2014, to build a parking complex. It has estimated that the complex will cost $8 million and will take three years to construct. The complex will be billed to the purchasing company at $11.1 million. The details are as follows:

			2014			2015			2016
Costs to date		$	3,060,000		$	6,435,000		$	8,550,000
Estimated costs to complete			4,595,500			1,969,074			0
Progress billings to date			4,000,500			6,300,000			11,100,000
Cash collected to date			3,500,500			5,000,000			11,100,000