Problem:
Calvani, Inc., has a cash cycle of 46.5 days, an operating cycle of 69 days, and an inventory period of 30 days. The company reported cost of goods sold in the amount of $348,000, and credit sales were $571,000.
Required:
Question: What is the company's average balance in accounts payable and accounts receivable?
Note: Please show the work not just the answer.