J. C. Penney Company, Inc. (JCP) and Macy€™s, Inc. (M) are large department store chains in the United States. Information from recent annual reports for both companies is as follows (in millions):

a. Determine the days€™ cash on hand for each company. Round to one decimal place.
b. Which company has the better liquidity position?

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J. C. Penney $ 119 781 4,640 616 Macy's $1,109 Cash (end of year) Short-term investments (end of year) Operating expenses Depreciation expense 8,256 1,061