4:59 ..l 4G FINC2110 FINANCIAL MANAGEMENT INDIVIDUAL TUTORIAL 1 JUNE 2019 SEMESTER 1. Prepare a balance sheet and income statement for TNT, Inc., from the following scrambled list of items: Depreciation $ 99,000 Cash 337,500 Long-term debt 501,000 Sales 859,500 Accounts payable 153.000 General and administrative expense 118,500 Buildings and equipment 1,342,500 Notes payable 113,850 Accounts receivable 251.250 Interest expense 7,125 Accrued expenses 11,850 Common stock 433,500 Cost of goods sold 445.500 Inventory 148,950 Taxes 75,750 Accumulated depreciation 394,500 Taxes payable 79,500 Retained earnings 393,000 Required: a) Prepare an income statement for TNT. b) Prepare a balance sheet for TNT. c) What can you say about the firm's financial condition based on these financial statement