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 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 $ 65,500 82,500 0 Computer software Equipment client contracts In-process research and development Notes payable Fair Values $120,750 68,100 129,000 30, 250 (95,400) 0 (90,400) At December 31, 2018, the following financial information is available for consolidation: Pratt Spider $ 13,700 $ 21,400 140,500 41,500 144,500 79,500 513,100 0 229,000 65,500 569,000 130,000 366,000 82,500 0 0 0 $ 1,975, 800 $ 420, 400 $ (93,300) $ (59,500) (525,500) (90, 400) (380,000) (100,000) (170,000) (25,000) (807,000). (145,500) $(1,975,800) $ (420,400) Cash Receivables Inventory Investment in Spider Computer software Buildings (net) Equipment (net) client contracts Goodwill Total assets Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings Total liabilities and equities 0 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