Ricky Bledsoe, CPA is going through a frustrating day trying to get his hands around several transactions. Quartney comes by and recommends they go to their local pub and discuss it over drinks. After reaching the bar, Ricky begins to explain the situation.

Sarah and Briana form SarahBriana Corporation. Sarah exchanges cash and other property for 700 shares (70% of the outstanding shares) of SarahBriana stock. Briana performs accounting services in exchange for 300 shares of SarahBriana stock worth $20,000 and property worth $10,000.

For the last four years, Stephan and Elom have each owned 100 of the 200 outstanding shares of Snow Corporation's stock. Stephan transfers land having a $10,000 basis and a $30,000 FMV to Snow for an additional 30 shares of stock, and Elom transfers $2,000 for an additional two shares of stock.

Stephanie, who owns 100% of Thomas Corporation, transfers land having a $50,000 FMV and a $30,000 adjusted basis to Thomas. In return, Stephanie receives additional shares of Thomas common stock having a $40,000 FMV and Cap Corporation common stock having a $20,000 FMV. The Cap Corporation common stock, a Capital asset, has a $5,500 basis on Thomas's books.

Analyze these transactions. Provide full explanations.