assets and liabilites

Pratt Company acquired all of Spider, lnc.'s outstanding shares on December 31, 2018, for $527,550 cash. Pratt will operate Spider as a wholly owned subsidiary with a separate legal and accounting identity. Although many of Spider's book values approximate fair values, several of its accounts have fair values that differ from book values. In addition, Spider has internally developed assets that remain unrecorded on its books. In deriving the acquisition price, Pratt assessed Spider's fair and book value differences as follows: Book Values Fair Values Computer software $ 34,000 $ 37,250 Equipment 36,400 70,900 Client contracts 0 111,000 Inprocess research and development 0 53,?50 Notes payable (94,500} {104,250} At December 31, 2018, the following nancial information is available for consolidation: Pratt Spider Cash 5 16,100 5 37,100 Receivables 113,000 57,000 Inventory 154,000 76,000 Investment in Spider 527,650 0 Computer software 210,500 34,000 Buildings {net} 596,500 150,000 Equipment {net} 340,000 36,400 Client contracts 0 0 Goodwill 0 0 Total assets 5 1,962,?50 5 441,100 Accounts payable $ (93,000} 5 (69,000} Notes payable {530,250} (94,500} Common stock {330,000} {100,000} Additional paid-in capital {170,000} (25,000} Retained earnings [T89,500} {152,600} Total liabilities and equities $(1,962,?50} 5(441,1nu: Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2018