Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jul. 31, 2016	Oct. 31, 2015
Current assets:
Cash	$ 1,772,817	$ 1,083,072
Trade accounts receivable, net of allowance for doubtful accounts of $86,085 at July 31, 2016 and $63,011 at October 31, 2015	9,046,269	9,189,498
Other receivables	46,230	134,428
Income taxes refundable	25,038	360,324
Inventories	14,944,113	17,816,080
Prepaid expenses	451,017	564,024
Total current assets	26,285,484	29,147,426
Property and equipment, net	13,845,348	13,903,919
Intangible assets, net	589,682	523,665
Other assets, net	392,557	1,453,808
Total assets	41,113,071	45,028,818
Current liabilities:
Current installments of long-term debt	291,042	280,999
Current maturities of note payable to bank	400,000
Accounts payable and accrued expenses	2,912,600	4,116,927
Accrued compensation and payroll taxes	1,249,290	1,222,728
Income taxes payable		22,498
Total current liabilities	4,852,932	5,643,152
Note payable to bank, excluding current maturities	5,500,000	6,000,000
Long-term debt, excluding current installments	6,725,928	6,946,008
Other noncurrent liabilities	121,177	551,108
Total liabilities	17,200,037	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 7,126,885 shares at July 31, 2016 and 7,059,548 shares at October 31, 2015	10,949,648	10,363,012
Retained earnings	12,963,386	16,267,595
Total shareholders’ equity attributable to Optical Cable Corporation	23,913,034	26,630,607
Noncontrolling interest		(742,057)
Total shareholders’ equity	23,913,034	25,888,550
Total liabilities and shareholders’ equity	$ 41,113,071	$ 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.