Exhibit 12.1
Winmark Corporation
Ratio of Earnings to Fixed Charges
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| Fiscal Year Ended |
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| 12/31/2005 |
| 12/25/2004 |
| 12/27/2003 |
| 12/28/2002 |
| 12/29/2001 |
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Fixed Charges |
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Interest Expensed/Capitalized |
| 6,784 |
| — |
| — |
| 264,200 |
| 1,007,400 |
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Amortized premiums/discounts |
| — |
| — |
| — |
| 255,900 |
| 517,200 |
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Est. rental expense interest |
| 81,075 |
| 79,437 |
| 80,125 |
| 83,673 |
| 81,993 |
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Subsidiaries Security Dividends |
| — |
| — |
| — |
| — |
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Total Fixed Charges |
| 87,859 |
| 79,437 |
| 80,125 |
| 603,773 |
| 1,606,593 |
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Earnings |
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Add: |
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Pretax income from Operations (before equity investments) |
| 4,824,200 |
| 7,065,300 |
| 6,679,000 |
| 6,368,400 |
| 5,259,100 |
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Fixed Charges |
| 87,859 |
| 79,437 |
| 80,125 |
| 603,773 |
| 1,606,593 |
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Amortization of Capitalized interest |
| — |
| — |
| — |
| — |
| — |
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Distributed income of Equity investees |
| — |
| — |
| — |
| — |
| — |
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Pretax losses of Equity investees for guarantees included in fixed charges |
| — |
| — |
| — |
| — |
| — |
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Less: |
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Interest Capitalized |
| — |
| — |
| — |
| — |
| — |
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Subsidiaries Security Dividends |
| — |
| — |
| — |
| — |
| — |
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Minority interest in pretax (income)/Loss of subsidiaries w/o fixed charges |
| — |
| — |
| — |
| — |
| — |
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Total Earnings |
| 4,912,059 |
| 7,144,737 |
| 6,759,125 |
| 6,972,173 |
| 6,865,693 |
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Ratio of Earnings to Fixed Charges |
| 55.9 |
| 89.9 |
| 84.4 |
| 11.6 |
| 4.3 |
|
Winmark Corporation
Estimated rental expense interest
(using 1/3 of lease payment)
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| Fiscal Year Ended |
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| 12/31/2005 |
| 12/25/2004 |
| 12/27/2003 |
| 12/28/2002 |
| 12/29/2001 |
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Copier Leases |
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Loffler |
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I500 | 1/02 to 7/05 |
| 840 |
| 1,680 |
| 1,680 |
| 1,680 |
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All others | 6/03 to 6/05 |
| 702 |
| 1,404 |
| 702 |
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Replacements |
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| 7/05 to current |
| 1,680 |
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WCC | 2/05 to current |
| 1,500 |
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IKON |
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OCE | Pre 2000 to 12/05 |
| 3,360 |
| 3,360 |
| 3,360 |
| 3,360 |
| 3,360 |
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Others | Pre 2000 to 2/03 |
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| 940 |
| 5,640 |
| 5,640 |
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Others | 3/03 to 8/03 |
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| 450 |
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BUILDING LEASE |
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| |
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| |
August 2000 to current |
| 72,993 |
| 72,993 |
| 72,993 |
| 72,993 |
| 72,993 |
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(Base rent of $18,248.30 per month) |
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Total Estimated rental expense interest |
| 81,075 |
| 79,437 |
| 80,125 |
| 83,673 |
| 81,993 |
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