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Red face Trying to work out a formula for time lost/gained

Hello, I'm not a complete novice when it comes to excel but I dont have much experience with anything other than simple formulas...

This is a bit tricky to explain but i'll try my best...

I'm trying to devise a table to highlight time lost or gained in a single day.

1. In the first column I want the amount of time worked (in hours and minutes)
2. In the second, if the time worked exceeds 7hrs 24mins then I would like the aditional time to show (e.g if worked 8hrs 34mins I would like 1hr 10mins to show, preferably as 1:10)
3. In the third, if the time worked is less than 7hrs 24mins. I would like the time lost to show


Any help is appreciated as all i've managed to do it get it to show the time worked or 0 in the 2nd and 3rd colums.

TIA
 
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