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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
3 Months Ended 6 Months Ended
May 02, 2020
May 04, 2019
May 02, 2020
May 04, 2019
Income Statement [Abstract]        
Net sales $ 10,202,502 $ 12,742,688 $ 19,646,354 $ 23,782,462
Cost of sales (7,065,007) (9,296,276) (13,619,010) (17,367,047)
Gross profit 3,137,495 3,446,412 6,027,344 6,415,415
Selling, general and administrative expenses (1,222,628) (1,310,686) (2,478,772) (2,507,858)
Operating income 1,914,867 2,135,726 3,548,572 3,907,557
Other income (loss):        
Interest income 84,273 145,026 186,156 297,469
Undistributed earnings in joint venture - Majestic 21 20,398 21,231 40,270 40,755
Proceeds received under escrow arrangement 189,285 108,119 272,394 212,607
Market value of equity investment (176,733)   (180,526)  
Gain on sale of assets   15,242   15,242
Miscellaneous 8,649 13,962 19,594 22,880
Total other income 125,872 303,580 337,888 588,953
Income before provision for income taxes 2,040,739 2,439,306 3,886,460 4,496,510
Income tax expense (490,735) (619,581) (936,315) (1,140,979)
Net income 1,550,004 1,819,725 2,950,145 3,355,531
Other comprehensive income        
Unrealized investment income, net of tax effect   39,172   55,712
Comprehensive income $ 1,550,004 $ 1,858,897 $ 2,950,145 $ 3,411,243
Weighted average number of shares outstanding:        
Basic 3,632,614 3,865,588 3,646,000 3,869,726
Diluted 3,633,933 3,867,802 3,647,329 3,871,943
Net income per share:        
Basic $ 0.43 $ 0.47 $ 0.81 $ 0.87
Diluted $ 0.43 $ 0.47 $ 0.81 $ 0.87