Porwal Parts acquires all the voting stock of Stonegate Supplies for $$50$ million. Stonegate's book value was $$11$ million at the date

of acquisition, consisting of capital stock of $$1$ million, retained earnings of $$12$ million, and accumulated other comprehensive loss

of $$2$ million. Stonegate's assets and liabilities are carried at amounts approximating fair value, and it has no previously unreported

identifiable intangible assets.

Consolidation eliminating entry $($E$),$ at the date of acquisition, includes $a(n)$ :

$$1$ million credit to capital stock

$$12$ million credit to retained earnings

$$2$ million credit to accumulated other comprehensive loss

$$50$ million credit to investment in Stonegate