A portion of the stockholders equity section from the balance sheet of Walland Corporation appears as follows. Notice that the company has two classes of preferred stock with different features, in addition to common stock. Stockholders' equity: Preferred stock, 8% cumulative, $50 par, 40,000 shares authorized, issued, and outstanding $ 2,000,000 Preferred stock, 12% noncumulative, $100 par, 8,000 shares authorized, issued, and outstanding 800,000 Common stock, $5 par,