Pratt Company acquired all of the outstanding shares of Spider, Inc., on December 31, 2021, for $528,900 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 $ 25,000 $ 72,500 44, 2ee 33,800 e 116,500 38,250 (75,500) (84,450) At December 31, 2021, the following financial information is available for consolidation (credit balances in parentheses): $ $ Spider 19,300 70, eee 70,500 Pratt 15,000 105,500 160, 500 528,900 223,50 612,250 307, eee e 25, eee 173,500 44,200 @ Cash 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 e $ 1,952, 650 $ 492,500 $ S (91,400) $ (34,500) (552,250) (75,500) (380,000) (1ee, eee) (170,000) (25,000) (759, eee) (167,500) $(1,952, 650) $ (462,500) Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2021. Credit Consolidated PRATT COMPANY AND SUBSIDIARY Worksheet for a Consolidated Balance Sheet December 31, 2021 Pratt Spider Debit $ 15,000 $ 19,300 105,500 70,000 160.500 70,500 528,900 223,500 25,000 612.250 173,500 307,000 44,200 Cash Receivables Inventory Investment in Spider Computer software Buildings (net) Equipment (net) Client contracts Research and development asset Goodwill Total assets Accounts payable Notes payable Common stock Additional paid-in capital Retained earnings Total liabilities and equities $ $ 1,952,650 $ 402.500 $ (91,400) $ (34,500) (552,250) (75,500) (380,000) (100,000) (170,000) (25,000) (759,000) (167,500) $ (1,952,650) $ (402,500) $ 0 $ 0 0 $ 0