PrattCompany acquired all of Spider, Inc.'s outstanding shares on December 31, 2018, for $495,000 cash.Prattwill 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,Prattassessed Spider's fair and book value differences as follows: