Forman and Brasso Furniture Company had accounts receivable of $126,200 and net sales of $248,800. Compute the ratio of accounts receivable to net sales. (Round answer to two decimal places.)

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Net Sales

The amount of sales revenue remaining after deducting returns, allowances for damaged or missing goods, and discounts.