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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jan. 31, 2016
Oct. 31, 2015
Current assets:    
Cash $ 538,695 $ 1,083,072
Trade accounts receivable, net of allowance for doubtful accounts of $70,086 at January 31, 2016 and $63,011 at October 31, 2015 7,579,185 9,189,498
Other receivables 42,974 134,428
Income taxes refundable 360,324 360,324
Inventories 17,603,332 17,816,080
Prepaid expenses 530,490 564,024
Total current assets 26,655,000 29,147,426
Property and equipment, net 14,673,631 13,903,919
Intangible assets, net 537,343 523,665
Other assets, net 293,711 1,453,808
Total assets 42,159,685 45,028,818
Current liabilities:    
Current installments of long-term debt 284,062 280,999
Accounts payable and accrued expenses 3,463,661 4,116,927
Accrued compensation and payroll taxes 1,050,748 1,222,728
Income taxes payable 45,152 22,498
Total current liabilities 4,843,623 5,643,152
Note payable to bank 6,000,000 6,000,000
Long-term debt, excluding current installments 6,874,247 6,946,008
Other noncurrent liabilities 117,799 551,108
Total liabilities 17,835,669 19,140,268
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 7,052,763 shares at January 31, 2016 and 7,059,548 shares at October 31, 2015 10,565,671 10,363,012
Retained earnings 14,522,574 16,267,595
Total shareholders’ equity attributable to Optical Cable Corporation 25,088,245 26,630,607
Noncontrolling interest (764,229) (742,057)
Total shareholders’ equity $ 24,324,016 $ 25,888,550
Commitments and contingencies
Total liabilities and shareholders’ equity $ 42,159,685 $ 45,028,818