EXHIBIT 12.1
WINMARK CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
|
| Fiscal Year Ended |
| ||||||||
|
| December 29, 2007 |
| December 30, 2006 |
| December 31, 2005 |
| December 25, 2004 |
| December 27, 2003 |
|
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
Interest Expensed/Capitalized |
| 2,487,795 |
| 955,747 |
| 6,784 |
| — |
| — |
|
Amortized premiums/discounts |
| — |
| — |
| — |
| — |
| — |
|
Estimated rental expense interest |
| 92,941 |
| 90,183 |
| 81,075 |
| 79,437 |
| 80,125 |
|
Subsidiaries Security Dividends |
| — |
| — |
| — |
| — |
| — |
|
Total Fixed Charges |
| 2,580,736 |
| 1,045,930 |
| 87,859 |
| 79,437 |
| 80,125 |
|
Earnings |
|
|
|
|
|
|
|
|
|
|
|
Add: |
|
|
|
|
|
|
|
|
|
|
|
Pretax income from Operations (before equity investments) |
| 5,508,200 |
| 5,500,100 |
| 4,824,200 |
| 7.065,300 |
| 6,679,000 |
|
Fixed Charges |
| 2,580,736 |
| 1,045,930 |
| 87,859 |
| 79,437 |
| 80,125 |
|
Amortization of Capitalized interest |
| — |
| — |
| — |
| — |
| — |
|
Distributed income of Equity investees |
| — |
| — |
| — |
| — |
| — |
|
Pretax losses of Equity investees for guarantees included in fixed charges |
| — |
| — |
| — |
| — |
| — |
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
Interest Capitalized |
| — |
| — |
| — |
| — |
| — |
|
Subsidiaries Security Dividends |
| — |
| — |
| — |
| — |
| — |
|
Minority interest in pretax (income)/Loss of subsidiaries w/o fixed charges |
| — |
| — |
| — |
| — |
| — |
|
Total Earnings |
| 8,088,936 |
| 6,546,030 |
| 4,912,059 |
| 7,144,737 |
| 6,759,125 |
|
Ration of Earnings to Fixed Charges |
| 3.1 |
| 6.3 |
| 55.9 |
| 89.9 |
| 84.4 |
|