ired all of Spider, Inc's outstanding shares on December 31, 2018, for $484.450 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: Fair Values Book Values $. 24,500 Computer software Equipment Client contracts In-process research and development Notes payable 78,500 49,800 129,500 21,500 (82,600) 65,500 (76,008)