On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows January 1. 2016 $308,000 September 1, 2016 $456.000 December 31, 2016 $456,000 March 31, 2017 $456,000 September 30, 2017 $308,000 Dreamworld had $5,200,000 in 12% bonds outstanding through both years Dreamworld's average accumulated expenditures for 2016 was: Multiple Choice 616,000 $308,000 $460,000 $537000