Question 16 Lytum & Hyde Explosives Co., has the following stock outstanding: 8% Preferred Stock $100 Par: $500,000 Common Stock. $50 Par: $2,000,000 No dividends were paid for the previous two years. Lytum & Hyde Explosives Co., declares $400,000 of dividends in the current year. If the preferred stock is non-cumulative, common shareholders will receive (Amount of the declared dividends this year