20) A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12.000 common shares outstanding.The journal entry to record the payment of the cash dividend is: 20) A) Debit Common Dividend Payable $12,000; credit Cash $12,000. B) Debit Dividend Expense $12,000; credit Common Dividend Payable $12,000. C) Debit Retained Earnings $12,000; credit Common Dividend Payable $12,000. D) Debit Dividend Expense $12,000; credit Cash $12,000. E) Debit Common Dividend Payable $12,000; credit Retained Earnings $12,000. 21) Preparation of the statement of cash flows does not involve: 21) A) Computing and reporting net cash provided or used by investing activities. B) Computing the profit compared to the net increase or decrease in cash. C) Computing and reporting net cash provided or used by financing activities. D) Computing the net increase or decrease in cash. E) Computing and reporting net cash provided or used by operations. 22) A company had average total assets of $1,660,000, total cash flows of $1,320,000, cash flows from operations of $205,000, and cash flows from financing of $750,000. The cash flow on total assets ratio equals: 22) A)45.2%. B) 12.3%. C)79.5%. D) 22.0%. E) 11.65%