Pratt Company acquired all of the outstanding shares of Spider, Inc., on December 31, 2021, for $499,450 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: Computer software Equipment Client contracts In-process research and development Notes payable Book Values Fair Values $ 3 30,000 $ 61,750 7 70,000 57,100 120,800 o 34,250 (96,000) (105,200) At December 31, 2021, the following financial information is available for consolidation (credit balances in parentheses): Cash $ $ Pratt 9,750 104,000 133,500 499,450 241,000 613,500 314,000 Spider 10,600 66,500 103,500 30,000 172,400 7 70,000 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 $ 1,915,200 $ 453,000 $ (89,700) $ (68,500) (511,500) (96,000) (380,000) (100,000) (170,000) (25,000) (764,000) (163,500) $(1,915,200) $ (453,000) Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2021