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Business Acquisition (Tables) | 12 Months Ended
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Oct. 31, 2019
Business Combinations [Abstract] |
Summary of Assets Purchased | The following table summarizes the amounts of assets purchased:
Assets acquired: |  |  |
Accounts receivable |  | $ | 86,442 |
Inventory |  |  | 1,116,021 |
Equipment |  |  | 221,283 |
Prepaid expenses |  |  | 28,913 |
Non-compete |  |  | 99,000 |
Customer lists |  |  | 245,000 |
Tradename |  |  | 668,000 |
Goodwill |  |  | 363,396 |
Less: Liability assumed |  |  | 10,210 |
Less: Note payable |  |  | 140,510 |
Cash paid |  | $ | 2,677,335 |
Schedule of Pro Forma Results of Operations | This pro forma financial information is not indicative of the results of operations that the Company would have attained had the acquisition occurred at the beginning of the periods presented, nor is the pro forma financial information indicative of the results of operations that may occur in the future:
|  | Twelve Months Ended October 31, |
|  | 2018 |  |  |  |
Pro forma sales |  | $ | 95,900,631 |  |  |  |  |
Pro forma net income (loss) |  | $ | 940,437 |  |  |  |  |
Pro forma basic and diluted earnings per share |  | $ | .17 |  |  |  |  |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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