$($Reviewing financial statements$)$ Prepare a balance sheet and income statement forTNT, Inc., from the following scrambled list of items:Depreciation expense$$99\mathrm{.}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$393,000**$ Prepare an income statement for TNT$.*$ Prepare a balance sheet for TNT$.*$ What can you say about the firm's financial condition based on these financial statements?