Analyze and compare J. C. Penney and Macy's 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): J. C. Penney Macy's $109 $1,162 Cash (end of year) Short-term investments (end of year) Operating expenses Depreciation expense Days' Cash on Hand J. C. Penney 224 days 4,155 a. Determine the days' cash on hand for each company. Assume a 365-day year. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal place. 556 Macy's 8,786 962 b. Which company has the better liquidity position? days

Anatyze and compare 1. C. Menney and Mary one decimal place