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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jan. 31, 2020
Oct. 31, 2019
Current assets:    
Cash $ 693,740 $ 537,330
Trade accounts receivable, net of allowance for doubtful accounts of $84,724 at January 31, 2020 and $99,562 at October 31, 2019 6,799,168 10,347,597
Income taxes refundable - current 25,004 25,004
Other receivables 26,346 69,727
Inventories 17,180,139 18,095,627
Prepaid expenses and other assets 374,770 304,713
Total current assets 25,099,167 29,379,998
Property and equipment, net 9,697,323 10,010,223
Income taxes refundable - noncurrent 25,003 25,003
Intangible assets, net 670,349 659,280
Other assets, net 1,173,159 32,430
Total assets 36,665,001 40,106,934
Current liabilities:    
Current installments of long-term debt 500,357 738,955
Note payable to bank - current 5,650,000 5,650,000
Accounts payable and accrued expenses 4,617,070 5,459,352
Accrued compensation and payroll taxes 1,130,923 1,763,338
Income taxes payable 19,407 15,382
Total current liabilities 11,917,757 13,627,027
Long-term debt, excluding current installments 5,088,807 5,169,668
Other noncurrent liabilities 977,069 71,339
Total liabilities 17,983,633 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 7,456,072 shares at January 31, 2020 and 7,458,981 shares at October 31, 2019 13,894,244 13,853,334
Retained earnings 4,787,124 7,385,566
Total shareholders’ equity 18,681,368 21,238,900
Commitments and contingencies
Total liabilities and shareholders’ equity $ 36,665,001 $ 40,106,934