Pratt Company acquired all of Spider, Inc.s outstanding shares on December 31, 2015, for $490,350 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	$	45,500	$	86,700
Equipment		74,500		60,000
Client contracts		0		121,000
In-process research and development		0		30,750
Notes payable		(95,400)		(104,000)

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

	Pratt			Spider
Cash	$	14,050		$	14,400
Receivables		108,500			64,500
Inventory		176,000			73,800
Investment in Spider		490,350			0
Computer software		244,000			45,500
Buildings (net)		617,500			153,000
Equipment (net)		379,000			74,500
Client contracts		0			0
Goodwill		0			0
Total assets	$	2,029,400		$	425,700
Accounts payable	$	(95,900)		$	(54,800)
Notes payable		(530,500)			(95,400)
Common stock		(380,000)			(100,000)
Additional paid-in capital		(170,000)			(25,000)
Retained earnings		(853,000)			(150,500)
Total liabilities and equities	$	(2,029,400)		$	(425,700)

Note: Parentheses indicate a credit balance.

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