Corporate Financial Accounting
Corporate Financial Accounting
15th Edition
ISBN: 9781337670517
Author: WARREN
Publisher: Cengage
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Chapter 7, Problem 7.2MAD

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
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
  1. a. Determine the days’ cash on hand for each company. Round to one decimal place.
  2. b. Chapter 7, Problem 7.2MAD, Analyze and compare J. C. Penney and Macys J. C. Penney Company, Inc. (JCP) and Macys, Inc. (M) are Which company has the better liquidity position?
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Corporate Financial Accounting

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