Sheffield Corporation reported Long$-$Term Liabilities and Shareholders' Equity in its December $31,2023$ Balance Sheet as follows:

Long Term Liabilities:

Bonds Payable

$14\%$ interest, convertible to $15$ common shares$/$$$1,000$ bond

Bonds Payable

$9\%$ interest, convertible to $40$ common shares$/$$$1,000$ bond

Shareholders' Equity:

Class A Preferred shares

$$3\mathrm{.}50$ cumulative preferred share convertible into $7$ common shares, $116,000$ authorized, issued and outstanding

Class B Common shares

Unlimited number authorized $4,960,000$ issued and outstanding

$$7,100,000$

$$4,200,000$

$$5,800,000$

$$24,800,000$