Porwal Parts Acquires All the Voting Stock of Stonegate Supplies

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) :

A) $1 million credit to capital stock
B) $2 million credit to accumulated other comprehensive loss
C) $12 million credit to retained earnings
D) $50 million credit to investment in Stonegate