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Default More than 2 IF options

Hello,

I am trying to create a formula that will give three possible results for a
result in another cell. The answer in cell C1 may be 4. Then in cell D1 I
want it to give me a readout of "ON TIME" if C1<4, "SLOW" if C1=4, and "LATE"
if C14. How do I create that formula???

I tried =IF(AND(C1<4, C1=4, C14), "ON TIME", "SLOW", "LATE"), but it didn't
work. It stated that I entered too many arguments for this function.
 
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