Pratt Company acquired all of Spider, Inc.s outstanding shares on December 31, 2015, for $550,200 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	$	26,000	$	90,500
Equipment		60,000		43,300
Client contracts		0		139,000
In-process research and development		0		26,000
Notes payable		(103,500)		(113,100)

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

	Pratt			Spider
Cash	$	9,400		$	43,000
Receivables		113,500			89,000
Inventory		144,000			100,000
Investment in Spider		550,200			0
Computer software		242,500			26,000
Buildings (net)		601,250			150,500
Equipment (net)		279,000			60,000
Client contracts		0			0
Goodwill		0			0
Total assets	$	1,939,850		$	468,500
Accounts payable	$	(95,100)		$	(55,000)
Notes payable		(519,750)			(103,500)
Common stock		(380,000)			(100,000)
Additional paid-in capital		(170,000)			(25,000)
Retained earnings		(775,000)			(185,000)
Total liabilities and equities	$	(1,939,850)		$	(468,500)

Note: Parentheses indicate a credit balance.

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