Pratt Company acquired 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 Book Values Fair Values Computer software Equipment Client contracts In-process research and development Notes payable $ 24,500 65,500 $ 78,500 49,800 129,500 21,500 (82,600) (76,000) At December 31, 2018, the following financial information is available for consolidation Pratt Spider 10,750 14,500 50,500 86,500 Cash Receivables Inventory Investment in Spider Computer software Buildings (net) Equipment (net) Client contracts Goodwil1 116,500 142,500 484,450 213,500 608,250 383,000 24,500 131,500 65,500 Total assets $ 1,958,950 373,000 Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings $91,200) (31,500) 76,000) (380,000) 100,000) (25,000) (521,750) (170,000) (796,000) (140,500 Total liabilities and equities $ (1,958,950 $ (373,000) Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2018. PRATT COMPANY AND SUBSIDIARY Consolidated Balance Sheet December 31, 2018 Assets Liabilities and Stockholders' Equity Total assets 0 Total liabilities and equities 0