Exhibit 11.2 Tuesday Morning Corporation Ratios of Earnings Combined Fixed Charges and Preferred Stock Dividend Requirements Pro Forma Twelve Months Year Ended December 31 Ended --------------------------------------------------------------- December 31 1992 1993 1994 1995 1996 1997 1997 ------ ------ ----- ------ ------ ------ ------------- Earnings before taxes 10,215 (2,572) 4,016 7,264 18,508 (318) 6,934 Preferred dividends - - - - - 57 (7,064) --------------------------------------------------------------------------- Total 10,215 (2,572) 4,016 7,264 18,508 (261) (130) --------------------------------------------------------------------------- Interest on debt 771 1,689 2,289 3,063 2,589 3,190 25,331 Interest on capitalized leases 169 267 178 82 82 Interest on operating leases 2,803 3,564 3,927 4,192 4,656 5,798 5,798 Preferred dividend - - - - - 57 7,064 --------------------------------------------------------------------------- Total fixed charges 3,574 5,253 6,385 7,522 7,423 9,127 38,275 --------------------------------------------------------------------------- Total available income 13,789 2,681 10,401 14,786 25,931 8,866 38,145 =========================================================================== --------------------------------------------------------------------------- Ratio 3.9 0.5 1.6 2.0 3.5 1.0 1.0 ---------------------------------------------------------------------------