INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2019

INCOME TAXES

Schedule of differences between financial statement basis and tax basis of assets

		October 31, 2019		October 31, 2018
Financial Statement basis of assets	*	$	106,054,709	$	116,861,069
Organization & start-up costs capitalized for tax purposes, net			89,389		178,777
Tax depreciation greater than book depreciation			(9,349,983)		(12,461,315)
Unrealized derivatives (gains) losses of commodity derivative instruments			(727,275)		(532,300)
Capitalized inventory			52,927		47,745
Net effect of consolidation of acquired subsidiary			(28,135,408)		(30,163,149)
Income tax basis of assets		$	67,984,358	$	73,930,827
*The Financial Statement basis of assets is the total assets of GFE and HLBE. See consolidated balance sheet in financial statements.
Financial Statement basis of liabilities		$	21,370,160
Accrued rail car maintenance			(825,000)
Other accruals			(84,383)
Net effect of consolidation of acquired subsidiary			(734,890)
Income tax basis of liabilities		$	19,725,887