Pratt Company acquired all of Spider, Inc.s outstanding shares on December 31, 2018, for $513,100 cash. Pratt will operate Spider as a wholly owned subsidiary with a separate legal and accounting identity. Although many of Spiders 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 Spiders fair and book value differences as follows: Book Values Fair Values Computer software $ 65,500 $ 120,750 Equipment 82,500 68,100 Client contracts 0 129,000 In-process research and development 0 30,250 Notes payable (90,400 ) (95,400 ) At December 31, 2018, the following financial information is available for consolidation: Pratt Spider Cash $ 13,700 $ 21,400 Receivables 140,500 41,500 Inventory 144,500 79,500 Investment in Spider 513,100 0 Computer software 229,000 65,500 Buildings (net) 569,000 130,000 Equipment (net) 366,000 82,500 Client contracts 0 0 Goodwill 0 0 Total assets $ 1,975,800 $ 420,400 Accounts payable $ (93,300 ) $ (59,500 ) Notes payable (525,500 ) (90,400 ) Common stock (380,000 ) (100,000 ) Additional paid-in capital (170,000 ) (25,000 ) Retained earnings (807,000 ) (145,500 ) Total liabilities and equities $ (1,975,800 ) $ (420,400 ) Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2018.