Use the incomplete stockholders' equity section of Box Company's balance sheet as of December 31, 2015, to answer the following question.
Definitions:
Board of Directors
A group of individuals elected to represent shareholders and make major decisions concerning the corporation, including company policy, and director oversight.
Preferred Shares
Preferred shares represent ownership in a company with preferential rights to dividends and assets upon liquidation, compared to common shares.
Doctrine of Ultra Vires
A principle stating that actions taken by a corporation that are beyond its legal power or authority are invalid.
Duty of Loyalty
An obligation to act in the best interest of another party, typically in fiduciary relationships.
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