BigCoInc (BCI) had 1 million shares of common stock outstanding at 12/31/22 immediately prior to the following transaction. On 12/31/22, BCI issued

an additional 1 million shares of its common stock in exchange for all the common stock of Target Corporation (TC). The surviving entity was thus legally

structured as BCI as parent with TC structured as a 100% owned subsidiary. Subsequent to the merger, the board of directors of the new combined enity

comprised 4 of the prior directors of BCI and 4 of the directors of TC prior to merger. In addition, the CEO and CFO of TC were appointed to those positions

for the new entity.

Which entity do you believe is the acquiring entity for GAAP (and thus must become the base history of the company while the other entity is subject to

acquisition accounting. Explain your answer.