$($a$)$ Company A has issued a perpetual preferences share which is redeemable at option of the Company but not at the option of the holders, interests of $10\%$ must be paid annually, provided that there are sufficient distributable profits. Should the issue proceed be classified as debt or equity in the accounts of the issuer?

$($b$)$ Company B has issued redeemable $5\%$ fixed preference shares where payments of dividends is mandatory. How Company B should classified this instruments?