Help with calculating Early/On Time/Late from Set Time Windows

Hi there. I am new to the forum and am looking for some help. Normally I can solve most things in Excel but this has me stumped.

I am in need of creating a spreadsheet that will report whether an imported delivery time is either Early/Late or On Time based on a fixed Time Window. I have the following result so far:

Earliest Latest Actual Delivery Status
20:00 22:00 23:00 Late Calculation works
23:30 1:00 23:45 Late Doesn't Work - Should be On Time
0:15 1:45 0:10 Early Calculation works
4:00 7:00 5:00 On Time Calculation works

The calculation I have come up with so far is:

=IF(K7>(greater than)L$1,IF(AND(I7<(less than)K7,J7<(less than) K7),"Late",IF(AND(I7>(greater than)K7,J7>(greater thna)K7),"Early",IF(AND(I7<(less than)M1,M1>(greather than)K7),"On Time","On Time"))))


In the calculation, L$1 is defined as 00:00:00 and M1 is 23:59:00. K7 is Actual Delivery Time, I7 is Earliest Delivery Time and J7 is Latest Delivery Time.

The problem comes when the Earliest and Latest Delivery time essentially go through midnight.

I have tried many different ways to get the calculation to work but with no joy.

I am using Excel 2003 on Windows XP.

Any help with resolving the problem would be gratefully appreciated.

Thanks.