It's a classic shot of a "schoolgirl" who has clearly messed up big time and is in for more than just a spanking from her angry father.
The scenario in my mind is she's be sent home from school - suspended for the rest of the week - the head has spoken to her parents by phone about her appalling behaviour and her mother has told her to wait in this position for her father who'll be home shortly to deal with her. Both parents regret that the school isn't allowed to just giver her the caning she deserves rather than make her miss valuable school, but they're about to make up for this shortcoming of the modern education system in their own way. Up on tiptoes and with the top of the chair uncomfortably pressing on her stomach, yet those discomforts that are a long way from uppermost in her mind as she wonders just what she's going to get and how long he's going to make her wait to find out.