Problem 2-30 (Algo) (LO 2-4,2-5, 2-7, 2-8) Pratt Company acquired all of the outstanding shares of Spider, Inc., on December 31, 2021, for $528,850 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 $ 45,888 $ 102,800 60,500 43,900 110,000 26,500 (92,000) (101,300) At December 31, 2021, the following financial information is available for consolidation (credit balances in parentheses): $ Pratt $ 5,650 146,00 175,500 528,85e 250, 500 500, cee 332,000 Spider 21,700 86,500 127, eee 45,800 132,000 60,500 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 @ $ 1,938,500 $ 473,500 $ (97,500) $ (68,000) (525, 000) (92,000) (380,000) (100,000) (170,000) 125,000) (766,000) (188,500) $(1,938,500) $(473,500) Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2021, PRATT COMPANY AND SUBSIDIARY Worksheet for a Consolidated Balance Sheet December 31, 2021 Pratt Spider Debit $ 5,650 $ 21.700 Al ol Cash Dana Credit Consolidated