Problem 16-15 Cash and Operating Cycles [LO3]

Calvani, Inc., has a cash cycle of 40 days, an operating cycle of 56 days, and an inventory period of 23.5 days. The company reported cost of goods sold in the amount of $354,000, and credit sales were $577,000.

Required:

What is the companys average balance in accounts payable and accounts receivable? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)