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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jan. 31, 2024
Oct. 31, 2023
Current assets:    
Cash $ 220,980 $ 1,468,709
Trade accounts receivable, net of allowance for credit losses of $59,215 at January 31, 2024 and $71,189 at October 31, 2023 7,397,512 8,727,810
Income taxes refundable - current 81,844 81,844
Other receivables 553,108 397,758
Inventories 23,022,757 23,766,326
Prepaid expenses and other assets 564,069 595,469
Total current assets 31,840,270 35,037,916
Property and equipment, net 7,134,113 7,139,616
Intangible assets, net 552,683 566,197
Other assets, net 966,819 1,135,172
Total assets 40,493,885 43,878,901
Current liabilities:    
Current installments of long-term debt 53,663 52,624
Accounts payable and accrued expenses 5,129,639 5,843,044
Accrued compensation and payroll taxes 1,516,402 1,849,780
Income taxes payable 29,721 22,754
Total current liabilities 6,729,425 7,768,202
Note payable, revolver - noncurrent 7,459,960 8,324,397
Long-term debt, excluding current installments 2,613,949 2,622,620
Other noncurrent liabilities 342,491 441,838
Total liabilities 17,145,825 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 7,853,357 shares at January 31, 2024 and 7,893,681 shares at October 31, 2023 15,185,623 15,134,133
Retained earnings 8,162,437 9,587,711
Total shareholders’ equity 23,348,060 24,721,844
Commitments and Contingencies  
Total liabilities and shareholders’ equity $ 40,493,885 $ 43,878,901