On 1 September 2016 Hardware Ltd purchased a controlling 55% stake in Garden Ltd for R90 million. At 31 August 2017, the group’s financial year end, the total assets of Hardware Ltd amounted to R1.2 billion and the total assets of Garden Ltd amounted to R840 million. The consolidated net profit after tax for the group for the year ending 31 August 2017 is R306 million.
The return on assets of the group will be closest to:
15%
19%
26%
None of the above