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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jul. 31, 2024
Oct. 31, 2023
Current assets:    
Cash $ 796,735 $ 1,468,709
Trade accounts receivable, net of allowance for credit losses of $70,742 at July 31, 2024 and $71,189 at October 31, 2023 8,588,865 8,727,810
Income taxes refundable - current 80,797 81,844
Other receivables 40,581 397,758
Inventories 19,259,308 23,766,326
Prepaid expenses and other assets 424,239 595,469
Total current assets 29,190,525 35,037,916
Property and equipment, net 6,985,219 7,139,616
Intangible assets, net 527,047 566,197
Other assets, net 895,847 1,135,172
Total assets 37,598,638 43,878,901
Current liabilities:    
Current installments of long-term debt 55,958 52,624
Accounts payable and accrued expenses 5,338,907 5,843,044
Accrued compensation and payroll taxes 1,568,292 1,849,780
Income taxes payable 12,949 22,754
Total current liabilities 6,976,106 7,768,202
Note payable, revolver - noncurrent 7,280,673 8,324,397
Long-term debt, excluding current installments 2,585,095 2,622,620
Other noncurrent liabilities 402,673 441,838
Total liabilities 17,244,547 19,157,057
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 7,890,494 shares at July 31, 2024 and 7,893,681 shares at October 31, 2023 15,350,053 15,134,133
Retained earnings 5,004,038 9,587,711
Total shareholders’ equity 20,354,091 24,721,844
Commitments and Contingencies  
Total liabilities and shareholders’ equity $ 37,598,638 $ 43,878,901