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