Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
3Activity
0 of .
Results for:
No results containing your search query
P. 1
Ameritrade Solution

Ameritrade Solution

Ratings: (0)|Views: 793|Likes:

More info:

Published by: Rashed Al Ahmad Tarique on Jun 19, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as XLS, PDF, TXT or read online from Scribd
See more
See less

11/14/2012

pdf

text

original

 
Exhibit 11
199719961995
Net RevenuesTransaction Income $51,936,902 $36,469,561 $23,977,481Net Interest 18,193,946 11,477,878 8,434,584Other 7,107,492 6,391,314 2,607,538Total Net Revenues 77,238,340 54,338,753 35,019,603Expenses Excluding InterestEmployee Compensation 19,290,808 14,049,642 8,481,977Commissions and Clearance 3,320,262 2,530,642 2,516,796Communications 5,623,468 3,685,535 2,352,590Occupancy and Equipment Cost 5,422,839 2,889,654 1,626,725Advertising and Promotion 13,970,834 7,537,265 4,842,392Provision for Losses 59,000 148,014 1,428,663Amortization of Goodwill 363,002 363,002 94,152Other 7,763,014 4,717,406 2,846,280Total Expenses Excluding Interest 55,813,227 35,921,160 24,189,575Income Before Income Taxes 21,425,113 18,417,593 10,830,028Taxes 7,602,964 7,259,248 3,798,881Net Income $13,822,149 $11,158,345 $7,031,147EPS $1.00 $0.87 $0.55Shares Outstanding 13,768,889 12,813,823 12,813,823
Source: Ameritrade Annual Report, 1997.
Exhibit 1
Consolidated Annual Income Statements for the Fiscal Year Ending in September
 
Exhibit 22
19971996ASSETS
Cash and Cash Equivalents $53,522,447 $15,767,170Cash and Investments Segregated in Compliance with Federal Regulations 319,763,921 175,668,497Receivable from Brokers, Dealers, and Clearing Organizations 17,823,640 15,096,862Receivable from Customers and Correspondents 325,407,147 166,075,055Furniture, Equipment, and Leasehold Improvements 8,709,923 3,746,178Goodwill 6,346,763 6,709,765Equity Investments 7,597,972 7,157,783Other Investments 5,000,000 5,000,000Deferred Income Taxes 39,314 444,378Other Assets 13,145,616 6,013,544Total Assets $757,356,743 $401,679,232
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:Payable to Brokers, Dealers, and Clearing Organizations 1,404,999 1,193,479Payable to Customers and Correspondents 666,279,440 356,942,970Accounts Payable and Accrued Liabilities 19,252,931 7,221,008Notes Payable to Bank -- 4,853,000Income Taxes Payable 3,430,279 806,711Total Liabilities 690,367,649 371,017,168
Stockholders' Equity: 
Class A Common Stock 131,534 114,494Class B Common Stock 13,644 13,644Additional Paid in Capital 23,297,506 809,665Retained Earnings 43,546,410 29,724,261Total Stockholders' Equity 66,989,094 30,662,064Total Liabilities and Stockholders' Equity $757,356,743 $401,679,232
Source: Ameritrade Annual Report, 1997.
Exhibit 2
Consolidated Annual Balance Sheets for the Fiscal Year Ending in September
 
Exhibit 33
Prevailing Yields on U.S. Government Securities (August 31, 1997)
Annualized Yield to Maturity
3-Month T-Bills 5.24%1-Year Bonds 5.59%5-Year Bonds 6.22%10-Year Bonds 6.34%20-Year Bonds 6.69%30-Year Bonds 6.61%
Historic Average Total Annual Returns on U.S. Government Securities and Common Stocks (1950-1996)
Average Annual ReturnStandard Deviation
T-Bills 5.2% 3.0%6.4% 6.6%6.0% 10.8%14.0% 16.8%17.8% 25.6%
Historic Average Total Annual Returns on U.S. Government Securities and Common Stocks (1929-1996)
Average Annual ReturnStandard Deviation
T-Bills 3.8% 3.3%5.4% 5.8%5.5% 9.2%12.7% 20.3%17.7% 34.1%
Exhibit 3
Capital Market Return Data (Historical and Current)
Intermediate Bonds
a
Long-term Bonds
b
Large Company Stocks
c
Small Company Stocks
d
Intermediate Bonds
a
Long-term Bonds
b
Large Company Stocks
c
Small Company Stocks
d
Sources: Yields are from Datastream, historical data are from Ibbotson Associates,
SBBI 2000 Yearbook 
.
a
Portfolio of U.S. Government bonds with maturity near 5 years.
b
Portfolio of U.S. Government bonds with maturity near 20 years.
c
Standard & Poor's 500 Stock Price Index.
d
A subset of small cap stocks traded on the NYSE (1926-1981); Dimensional Fund Advisor's Small Company Fund (1982-1997).

Activity (3)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads
Suk Jay Jeong liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->