... sales from this sector have reduced dramatically over a 5 year period (see graph 1. Percentage Breakdown of Turnover). Clever Clothes is known in the industry for producing high quality garments and delivering good service and in the last three years has entered the mail order market and has started to see some growth in this sector this year where the opportunity to increase profits is possible as the customer is not in the extremely competitive commercial sector. 2. Interpretation of Clever Clothes Accounts The following pages will examine the recent historical past of Clever Clothes through examination of the Clever Clothes accounts from 1991 through to 1996 using the profit and loss and balance sheet accounts attached in Appendix 1.and Appendix 2. (page 19 and 20). 2.1. Observations from the P + L Account and Balance Sheet From the P + L account the first and last figures give cause for concern, the turnover for ...

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