You are evaluating the liquidity position of two technology companies, TechStart and InnovateNow, in the startup sector.

Requirements:

1. TechStart has current assets of $80 million, including inventories of $20 million, and current liabilities of $40 million as of December 31, 2023. InnovateNow has current assets of $100 million, including inventories of $30 million, and current liabilities of $50 million on the same date.
2. Calculate the quick ratio for both companies.
3. Determine which company has a stronger liquidity position relative to its short-term liabilities.