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Consolidated Balance Sheets - USD ($)
Oct. 31, 2015
Oct. 31, 2014
Current assets:    
Cash $ 1,083,072 $ 1,089,507
Trade accounts receivable, net of allowance for doubtful accounts of $63,011 in 2015 and $92,988 in 2014 9,189,498 14,076,349
Other receivables 134,428 $ 180,135
Income taxes refundable 360,324
Inventories 17,816,080 $ 17,518,119
Prepaid expenses $ 564,024 578,843
Deferred income taxes, current 1,933,653
Total current assets $ 29,147,426 35,376,606
Property and equipment, net 13,903,919 13,113,445
Intangible assets, net $ 523,665 438,696
Deferred income taxes - noncurrent 320,509
Other assets, net $ 1,453,808 789,358
Total assets 45,028,818 50,038,614
Current liabilities:    
Current installments of long-term debt 280,999 269,996
Accounts payable and accrued expenses 4,116,927 5,438,519
Accrued compensation and payroll taxes 1,222,728 2,895,100
Income taxes payable 22,498 698,051
Total current liabilities 5,643,152 9,301,666
Note payable to bank 6,000,000 2,500,000
Long-term debt, excluding current installments $ 6,946,008 7,227,023
Deferred income taxes - noncurrent 26,038
Other noncurrent liabilities $ 551,108 677,597
Total liabilities 19,140,268 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 7,059,548 shares in 2015 and 6,839,778 shares in 2014 10,363,012 9,543,686
Retained earnings 16,267,595 21,462,881
Total shareholders’ equity attributable to Optical Cable Corporation 26,630,607 31,006,567
Noncontrolling interest (742,057) (700,277)
Total shareholders’ equity $ 25,888,550 $ 30,306,290
Commitments and contingencies
Total liabilities and shareholders’ equity $ 45,028,818 $ 50,038,614