Exhibit 99.2
ROCKY BRANDS, INC. AND SUBSIDIARIES
SCHEDULE II
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS FOR THE YEARS DECEMBER 31, 2006, 2005 AND 2004
                                         
            Balance     Additions                
    Balance at     Acquired     Charged to                
    Beginning of     From EJ     Costs and             Balance at  
DESCRIPTION   Period     Footwear     Expenses     Deductions     End of Period  
ALLOWANCE FOR DOUBTFUL ACCOUNTS
                                       
Year ended December 31, 2006
  $ 984,800     $     $ 520,620     $ (667,420 )(1)   $ 838,000  
Year ended December 31, 2005
  $ 715,000     $ 603,592     $ 106,799     $ (440,591 )(1)   $ 984,800  
Year ended December 31, 2004
  $ 620,000     $     $ 76,189     $ 18,811  (1)   $ 715,000  
 
                                       
VALUATION ALLOWANCE FOR DEFERRRED TAX ASSETS
                                       
Year ended December 31, 2006
  $ 314,332     $     $ 88,626     $     $ 402,958  
Year ended December 31, 2005
  $     $ 314,332 (2)   $     $     $ 314,332  
Year ended December 31, 2004
  $     $     $     $     $  
 
(1)   Amount charged off, net of recoveries.
 
(2)   To the extent the valuation allowance acquired from EJ Footwear Group is reduced, this reduction will be reflected as a reduction of goodwill.