Income Taxes (Tables)

12 Months Ended

Oct. 31, 2014

Income Taxes Tables

Income Tax Benefit

	2014		2013
Current income tax provision:
Federal	$	358,172	$	256,596
State		45,871		23,823
		404,043		280,419
Deferred income tax provision:
Federal		30,587		65,772
State		2,840		6,106
		33,427		71,878
Income tax provision	$	437,470	$	352,297

Income tax provide by federal statutory rate

	2014		2013
Expected federal income tax expense at
Statutory rate	$	391,642	$	352,067
State income tax expense, net of federal
income tax effect		23,821		21,427
Other – meals and entertainment		9,389		8,650
Other		12,618		(29,847	)
Income tax provision	$	437,470	$	352,297

Net Deferred Income Taxes

	2014			2013
Deferred tax assets
Inventory reserve	$	70,238		$	73,480
Other reserves and allowances		64,045			65,251
Capitalized inventory costs		91,094			114,400
Total deferred tax assets		225,377			253,131
Deferred tax liabilities
Property, plant, and equipment		(179,181	)		(173,508	)
Total gross deferred tax liabilities		(179,181	)		(173,508	)
Net deferred income taxes	$	46,196		$	79,623