Black Ltd and Pink Ltd agreed to merge by forming another company, Lisa Ltd, which acquired all the issued capital of the two companies in a share exchange. Black Ltd was a much larger company than Pink Ltd, with several large equity stakeholders, so that the board of Black Ltd emerged from the business combination with the power to dominate the operating and financial policies of the merged entity (Lisa Ltd). Based on these facts: a. either Black Ltd or Pink Ltd can be the acquiring entity because they have combined to form a new entity. b. Pink Ltd is the acquiring entity. c. neither Black Ltd nor Pink Ltd can be the acquiring entity because their equity securities have been acquired by Lisa Ltd. d. none of the above.