The differences between the consolidated financial statement basis and tax basis of assets are estimated as follows:
|
|
|
October 31, 2017 |
|
October 31, 2016 |
|
||
|
Consolidated financial statement basis of assets |
|
$ |
127,089,530 |
|
$ |
121,470,922 |
|
|
Organization & start-up costs capitalized for tax purposes, net |
|
|
268,166 |
|
|
357,554 |
|
|
Tax depreciation greater than book depreciation |
|
|
(14,219,188) |
|
|
(17,884,622) |
|
|
Unrealized derivatives gains of commodity derivative instruments |
|
|
(102,650) |
|
|
(566,588) |
|
|
Capitalized inventory |
|
|
81,119 |
|
|
41,467 |
|
|
Net effect of consolidation of acquired subsidiary |
|
|
(32,239,669) |
|
|
(36,496,913) |
|
|
Income tax basis of assets |
|
$ |
80,877,308 |
|
$ |
66,921,820 |
|
There were no significant differences between the consolidated financial statement basis of liabilities and the income tax basis of liabilities at October 31, 2017 and 2016.