You are assessing the liquidity position of two retail companies, RetailCo and StoreMart, to determine their ability to meet short-term obligations.

Requirements:

1. RetailCo has current assets of $80 million and current liabilities of $60 million as of December 31, 2023. StoreMart's current assets amount to $120 million, and current liabilities stand at $100 million on the same date.
2. Calculate the current ratio for both companies.
3. Determine which company has a stronger liquidity position based on its current ratio.