96 Thunderbird knocking,lack acceleration,smoking

I have a 96 Thunderbird that my wife recently was driving and started knocking shaking lack of power as far as acceleration goes and started smoking at the engine. She didn’t pay attention to see if the smoke was blue out exhaust and I know somewhat about cars and would like a second opinion. I think the valves are blown I haven’t checked the oil yet because its on the side of the road 50 miles from where I live so I’m very eager to get back to it but would like to do so with a better knowledge of what’s going on any suggestions? Please and thank you