Stockholders' equity information is given for Premier Computing Corp. and Ensenada, Inc. The two companies are independent.

Premier Computing Corp. Premier Computing Corp. is authorized to issue 50,000 shares of \(\$ 5\) par common stock. All the stock was issued at \(\$ 12\) per share. The company incurred a net loss of \(\$ 12,000\) in \(19 \mathrm{X} 1\). It earned net income of \(\$ 60,000\) in \(19 \mathrm{X} 2\) and \(\$ 90,000\) in \(19 \times 3\). The company declared no dividends during the three-year period.

Ensenada, Inc. Ensenada's charter authorizes the company to issue 10,000 shares of \(\$ 2.50\) preferred stock with par value of \(\$ 100\) and 120,000 shares of no-par common stock. Ensenada issued 1,000 shares of the preferred stock at \(\$ 104\) per share. It issued 40,000 shares of the common stock for a total of \(\$ 220,000\). The company's retained earnings balance at the beginning of \(19 \times 3\) was \(\$ 72,000\), and net income for the year was \(\$ 90,000\). During \(19 \times 3\) the company declared the specified dividend on preferred and a \(\$ 0.50\) per share dividend on common. Preferred dividends for \(19 \mathrm{X} 2\) were in arrears.

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For each company, prepare the stockholders' equity section of its balance sheet at December 31, 19X3. Show the computation of all amounts. Entries are not required.