Final answer:
Darv Co. had a current ratio of 3-to-1 and a quick ratio of 1-to-1. The total amount for inventory and prepaid expenses is $644,000.
Step-by-step explanation:
The current ratio is calculated by dividing current assets by current liabilities. In this case, the current ratio is 3-to-1, which means that for every $1 of current liabilities, the company has $3 of current assets. Therefore, the total amount of current assets would be $3 * $322,000 = $966,000.
The quick ratio is calculated by subtracting inventory from current assets and dividing by current liabilities. In this case, the quick ratio is 1-to-1, which means that for every $1 of current liabilities, the company has $1 of quick assets (current assets excluding inventory). Therefore, the total amount of quick assets would also be $322,000.
Since inventory is included in the total current assets and the amount of quick assets, the amount for inventory and prepaid expenses would be $966,000 - $322,000 = $old{644,000}$.