That is an overly simplistic way of looking at it as you are ignoring wages, amortizations and gains from sales. This year we will book a HUGE profit on the sale of Pogba + saved wages. The 110m is pure profit + 9m in gross wage savings. Higuain will cost us EU33m per year made up of 18m per year in amortization and 15m per year in wages.
Also worth noting that Morata helped quite a bit too. His amortized book value would have been 12m at the time of sale (4m per year over 2 years after purchasing for 20m). Therefore the gain on his sale was 18m + 4m in saved amortization + 6-7m in gross wages = 28-29m.
So far, by my calculations, as a result of the mercato so far, we have 76m in extra costs and booked 161m in gains and savings - net +85m. Of that 161m, 128m are profits from sale of players. Which means the following year, the net drops to -43m but then you have to add back the 20m in profit from Coman which takes you to -23m. Over 2 years, we would require to grow the revenue by only 6% in order to cover that.
Of course, I am not factoring in sales to Zaza, Pereyra, Hernanes to these figures nor am I factoring in additional purchases. If I was to assume that Zaza is sold for 25m, Pereyra 16m, and Hernanes 6m. That would lead to savings (including gains/losses on sale) of 38m of which ~12m would be 1 off gains. If we assume Gabigol at 25m on 3.5m net a year (5 year contract) and another midfielder for 25m, 3m net 5 year contract, that would both amount to additional annual cost of 23m per year.
That would all be well within budget.