It wasn't so long ago that Xerox ( XRX ) had no place to go but up -- or into Chapter 11. As accounting problems haunted the company and debt mounted, Xerox stock lost more than 80% of its value before CEO Anne M. Mulcahy took the helm in August, 2001. She had to serve as both chief financial officer and chief exec in her first year because Xerox' future was so murky it couldn't attract a high-quality candidate for the CFO job. Today, all that's history for the venerated company whose invention of the photocopier changed the 20th century workplace. Despite a sluggish market for office products and fierce competition from the likes of rivals Canon ( CAJ ) and Ricoh ( RICOY ), few doubt anymore that Xerox has turned the corner. It not only has cleaned up its balance sheet, but it's expanding its most profitable businesses again. In the fourth quarter of 2003, sales of digital office copiers, digital copiers for commercial printers and high volume industries, and services grew 10%.