Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Apr. 30, 2016	Oct. 31, 2015
Current assets:
Cash	$ 660,678	$ 1,083,072
Trade accounts receivable, net of allowance for doubtful accounts of $75,030 at April 30, 2016 and $63,011 at October 31, 2015	8,867,183	9,189,498
Other receivables	57,486	134,428
Income taxes refundable	360,324	360,324
Inventories	16,542,028	17,816,080
Prepaid expenses	486,605	564,024
Total current assets	26,974,304	29,147,426
Property and equipment, net	14,251,613	13,903,919
Intangible assets, net	570,514	523,665
Other assets, net	398,258	1,453,808
Total assets	42,194,689	45,028,818
Current liabilities:
Current installments of long-term debt	287,937	$ 280,999
Current maturities of note payable to bank	500,000
Accounts payable and accrued expenses	4,217,905	$ 4,116,927
Accrued compensation and payroll taxes	1,147,709	1,222,728
Income taxes payable	34,407	22,498
Total current liabilities	6,187,958	5,643,152
Note payable to bank, excluding current maturities	5,500,000	6,000,000
Long-term debt, excluding current installments	6,800,083	6,946,008
Other noncurrent liabilities	119,475	551,108
Total liabilities	18,607,516	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 7,119,510 shares at April 30, 2016 and 7,059,548 shares at October 31, 2015	10,811,950	10,363,012
Retained earnings	12,775,223	16,267,595
Total shareholders’ equity attributable to Optical Cable Corporation	$ 23,587,173	26,630,607
Noncontrolling interest		(742,057)
Total shareholders’ equity	$ 23,587,173	25,888,550
Total liabilities and shareholders’ equity	$ 42,194,689	$ 45,028,818

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

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Balance Type:	credit
Period Type:	instant

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.