Pratt Company acquired all of Spider, Inc.s outstanding shares on December 31, 2018, for $488,900 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 $ 28,000 69,500 Computer software Equipment Client contracts In-process research and development Notes payable $ 68,750 59,400 112,000 24,500 (79,000) (72,500) At December 31, 2018, the following financial information is available for consolidation: Pratt Spider 18,700 $16,000 57,500 87,000 Cash Receivables Inventory Investment in Spider Computer software Buildings (net) Equipment (net) Client contracts Goodwill 118,500 158,000 488,900 230,000 612,750 400,000 28,000 136,000 69,500 Total assets $ 2,026,850 394,000 Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings $(94,600) $ (34,000) (72,500) (380,000) (100,000) (25,000) (532,250) (170,000) (850,000) (162,500 Total liabilities and equities (2,026,850) $ (394,000) 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 Total liabilities and equities