XML 20 R2.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Balance Sheets - USD ($)
Oct. 31, 2020
Oct. 31, 2019
Current assets:    
Cash $ 140,839 $ 537,330
Trade accounts receivable, net of allowance for doubtful accounts of $524,617 in 2020 and $99,562 in 2019 7,561,334 10,347,597
Income taxes refundable - current 25,003 25,004
Other receivables 23,145 69,727
Inventories 17,099,767 18,095,627
Prepaid expenses and other assets 472,516 304,713
Total current assets 25,322,604 29,379,998
Property and equipment, net 8,811,863 10,010,223
Income taxes refundable - noncurrent 0 25,003
Intangible assets, net 665,731 659,280
Other assets, net 1,757,614 32,430
Total assets 36,557,812 40,106,934
Current liabilities:    
Note payable, SBA PPP loan - current 1,615,404 0
Current installments of long-term debt 312,109 738,955
Note payable to bank, revolver - current 0 5,650,000
Accounts payable and accrued expenses 2,861,343 5,459,352
Accrued compensation and payroll taxes 1,463,307 1,763,338
Income taxes payable 13,986 15,382
Total current liabilities 6,266,149 13,627,027
Note payable, SBA PPP loan - noncurrent 3,365,996 0
Note payable, revolver - noncurrent 4,988,660 0
Long-term debt, excluding current installments 4,853,457 5,169,668
Other noncurrent liabilities 1,823,632 71,339
Total liabilities 21,297,894 18,868,034
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 7,537,087 shares in 2020 and 7,458,981 shares in 2019 14,002,130 13,853,334
Retained earnings 1,257,788 7,385,566
Total shareholders’ equity 15,259,918 21,238,900
Commitments and contingencies
Total liabilities and shareholders’ equity $ 36,557,812 $ 40,106,934