Pratt Company acquired all of Spider, Inc.s outstanding shares on December 31, 2015, for $521,150 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	$	25,500	$	76,750
Equipment		63,000		48,700
Client contracts		0		120,000
In-process research and development		0		37,250
Notes payable		(64,500)		(71,550)

At December 31, 2015, the following financial information is available for consolidation:

	Pratt		Spider
Cash	$	10,500		$	10,500
Receivables		162,500			34,500
Inventory		167,000			104,500
Investment in Spider		521,150			0
Computer software		246,500			25,500
Buildings (net)		508,750			175,000
Equipment (net)		324,000			63,000
Client contracts		0			0
Goodwill		0			0
Total assets	$	1,940,400		$	413,000
Accounts payable	$	(93,900)		$	(58,000)
Notes payable		(533,500)			(64,500)
Common stock		(380,000)			(100,000)
Additional paid-in capital		(170,000)			(25,000)
Retained earnings		(763,000)			(165,500)
Total liabilities and equities	$	(1,940,400)		$	(413,000)

Note: Parentheses indicate a credit balance.

Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2015.