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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jul. 31, 2015
Oct. 31, 2014
Current assets:    
Cash $ 556,105 $ 1,089,507
Trade accounts receivable, net of allowance for doubtful accounts of $71,965 at July 31, 2015 and $92,988 at October 31, 2014 10,810,394 14,076,349
Other receivables 129,399 180,135
Income taxes refundable 360,325 0
Inventories 18,621,098 17,518,119
Prepaid expenses 599,129 578,843
Deferred income taxes, current 1,962,005 1,933,653
Total current assets 33,038,455 35,376,606
Property and equipment, net 13,978,787 13,113,445
Intangible assets, net 517,404 438,696
Deferred income taxes - noncurrent 212,446 320,509
Other assets, net 1,285,828 789,358
Total assets 49,032,920 50,038,614
Current liabilities:    
Current installments of long-term debt 277,969 269,996
Accounts payable and accrued expenses 5,891,227 5,438,519
Accrued compensation and payroll taxes 1,408,891 2,895,100
Income taxes payable 24,512 698,051
Total current liabilities 7,602,599 9,301,666
Note payable to bank 5,000,000 2,500,000
Long-term debt, excluding current installments 7,016,986 7,227,023
Deferred income taxes - noncurrent 61,747 26,038
Other noncurrent liabilities 546,559 677,597
Total liabilities 20,227,891 19,732,324
Shareholders’ equity:    
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding 0 0
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,075,532 shares at July 31, 2015 and 6,839,778 shares at October 31, 2014 10,163,137 9,543,686
Retained earnings 19,373,673 21,462,881
Total shareholders’ equity attributable to Optical Cable Corporation 29,536,810 31,006,567
Noncontrolling interest (731,781) (700,277)
Total shareholders’ equity $ 28,805,029 30,306,290
Commitments and contingencies    
Total liabilities and shareholders’ equity $ 49,032,920 $ 50,038,614