Pratt Company acquired all of the outstanding shares of Spider, Inc., on December 31, 2021, for $507,950 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 $ 29,000 $ 78,600 Equipment 55,800 40,700 Client contracts 0 114,000 In-process research and development 0 30,500 Notes payable (72,900 ) (81,950 ) At December 31, 2021, the following financial information is available for consolidation (credit balances in parentheses): Pratt Spider Cash $ 8,950 $ 18,400 Receivables 103,500 87,000 Inventory 152,500 86,000 Investment in Spider 507,950 0 Computer software 227,000 29,000 Buildings (net) 604,750 130,500 Equipment (net) 358,000 55,800 Client contracts 0 0 Goodwill 0 0 Total assets $ 1,962,650 $ 406,700 Accounts payable $ (90,400 ) $ (44,000 ) Notes payable (514,250 ) (72,900 ) Common stock (380,000 ) (100,000 ) Additional paid-in capital (170,000 ) (25,000 ) Retained earnings (808,000 ) (164,800 ) Total liabilities and equities $ (1,962,650 ) $ (406,700 ) Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2021.