Extracted text: Pratt Company acquired all of the outstanding shares of Spider, Inc., on December 31, 2021, for $504,450 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: Book Values Fair Values $ 57,000 $ 97,250 Computer software Equipment Client contracts 55,000 37, 200 107,500 29,500 (84,000) In-process research and development Notes payable (78,000) At December 31, 2021, the following financial information is available for consolidation (credit balances in parentheses): Spider 32,400 74,500 81,000 Pratt Cash 24 31,700 147,500 146,000 504,450 226,500 569, 250 311,000 Receivables Inventory Investment in Spider Computer software Buildings (net) Equipment (net) Client contracts 57,000 146,500 55,000 Goodwill Total assets $ 1,936,400 $ 446,400 Accounts payable Notes payable (94,900) $ (73,400) (524,500) (380,000) (170,000) (767,000) $(1,936,400) $ (446,400) (78,000) (100,000) (25,000) (170,000) Common stock Additional paid-in capital Retained earnings Total liabilities and equities Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2021.