(Reviewing financial statements) Prepare a balance sheet and income statement for TNT, Inc., from the scrambled list of items found here:

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Depreciation expense	$99,600
Cash	337,300
Long-term debt	501,800
Sales	860,400
Accounts payable	152,900
General and administrative expense	119,500
Buildings and equipment	1,342,900
Notes payable	112,400
Accounts receivable	251,890
Interest expense	7,060
Accrued expenses	11,830
Common stock	433,800
Cost of goods sold	445,200
Inventory	148,415
Taxes	75,455
Accumulated depreciation	394,000
Taxes payable	21,385
Retained earnings	452,390

.

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 statements?

a. Prepare an income statement for TNT.

Complete the income statement below:(Select from the drop-down menus and round to the nearest dollar.)

TNT Inc.
Income Statement
	$
Gross Profit	$
	$
Net Operating Income	$
Earnings before Taxes	$
Net Income	$

Part 2

b. Prepare a balance sheet for TNT.

Complete the assets part of the balance sheet below:(Select from the drop-down menus and round to the nearest dollar.)

The Warner Company
Balance Sheet
	$
Current Assets	$
	$
Net Plant and Equipment	$
Total Assets	$

Part 3

Complete the liabilities and owners' equity part of the balance sheet below:(Select from the drop-down menus and round to the nearest dollar.)

TNT Inc.
Balance Sheet (Cont'd)
	$
Current Liabilities	$
Total Liabilities	$
	$
Owners' Equity	$
Total Liabilities and Owners' Equity	$

Part 4

c. What can you say about the firm's financial condition based on these financial statements?

The company is in a relative

good

bad

short-term financial condition since the net working capital is

positive

negative

zero

. (Select from the drop-down menus.)