On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2019. Expenditures on the project were as follows January 1, 2018 September 1, 2018 $462,000 December 31, 2018 $462,000 March 31, 2019 September 30, 2019 $316,000 $316,000 $462,000 Dreamworld had $5,400,000 in 14% bonds outstanding through both years. The average accumulated expenditures for 2019 by the end of the construction period was