Pratt Company acquired all of Spider, Inc.'s outstanding shares onDecember 31, 2015, for $521,150 cash. Pratt will operate Spider as awholly owned subsidiary with a separate legal and accounting identity.Although many of Spider's book values approximate fair values, severalof its accounts have fair values that differ from book values. In addition,Spider has internally developed assets that remain unrecorded on itsbooks. In deriving the acquisition price, Pratt assessed Spider's fair andbook value differences as follows

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Book ValuesFair Values $ 25,500 63,000 Computer software Equipment Client contracts In-process research and development Notes payable $ 76,750 48,700 120,000 37,250 (71,550) (64,500) At December 31, 2018, the following financial information is available for consolidation: Pratt Spider Cash Receivables Inventory Investment in Spider Computer software Buildings (net) Equipment (net) Client contracts Goodwi1l 10,50010,500 34,500 104,500 162,500 167,000 521,150 246,500 508,750 324,000 25,500 175,000 63,000 Total assets $ 1,940,400 413,000 Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings $(93,900) $(58,000) (64,500) (380,000) 100,000) (25,000) (165, 500) $(1,940,400) (413,000) (533,500) (170,000) (763,000) Total liabilities and equities