Entity information:
INCOME TAXES

The Company has adopted an October 31 fiscal year end, but has a tax year end of December 31. The differences between financial statement basis and tax basis of assets are estimated as follows:
 
 
October 31, 2017
 
October 31, 2016
 
 
 
 
 
Financial statement basis of total assets
 
$
86,732,060

 
$
91,854,296

 
 
 
 
 
Derivative instruments - commodities
 
1,601,605

 
706,474

Organizational and start-up costs
 
1,783,470

 
2,047,688

Book to tax depreciation
 
(41,434,605
)
 
(35,586,146
)
 
 
 
 
 
Income tax basis of total assets
 
$
48,682,530

 
$
59,022,312


The differences between the financial statement basis and tax basis of the Company's liabilities are estimated as follows:

 
 
October 31, 2017
 
October 31, 2016
 
 
 
 
 
Financial statement basis of total liabilities
 
$
14,598,091

 
$
21,001,899

 
 
 
 
 
    Less: Accrued Expenses
 
360,000

 
316,800

 
 
 
 
 
Income tax basis of total liabilities
 
$
14,238,091

 
$
20,685,099