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 Cash (end of year) $119 $1,109 Short-term investments (end of year) 781 — Operating expenses 4,640 8,256 Depreciation expense 616 1,061 a. Determine the days’ cash on hand for each company. Round to one decimal place. J. C. Penney Macy’s Days’ Cash on Hand fill in the blank 1 days fill in the blank 2 days
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 Cash (end of year) $119 $1,109 Short-term investments (end of year) 781 — Operating expenses 4,640 8,256 Depreciation expense 616 1,061 a. Determine the days’ cash on hand for each company. Round to one decimal place. J. C. Penney Macy’s Days’ Cash on Hand fill in the blank 1 days fill in the blank 2 days
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
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 | |||
| Cash (end of year) | $119 | $1,109 | ||
| Short-term investments (end of year) | 781 | — | ||
| Operating expenses | 4,640 | 8,256 | ||
| Depreciation expense | 616 | 1,061 |
a. Determine the days’ cash on hand for each company. Round to one decimal place.
| J. C. Penney | Macy’s | |||
| Days’ Cash on Hand | fill in the blank 1 days | fill in the blank 2 days |
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