Review each situation below and determine whether or not it meets the Sec. $351$ control

requirement. Respond yes or no$.$

Jeremy and his wife Anna own $50$ shares each of the $100$ shares of Gracie Corp stock. In the

current year, their son daughter transfers property to Vast for $20$ new shares of Gracie Stock

Olive transfers property to Quick Corp for $60\%$ of Quick stock, and Mary provides services

to Quick for the remaining $40\%$ of Quick stock.

Pete transfers property to Target Corp for $70\%$ of Target stock, and Robert transfers property

worth $$100,000$ and performs services worth $$7,500$ for the remaining $30\%$ of Target stock.

Charlie and Ruth develop a plan to form Tiny Corp. On April $1$st of this year, Charlie transfers

property worth $$600,000$ for $60$ shares of Tiny stock. On August $1$st$,$ Ruth transferred

$$400,000$ cash for $40$ shares of Tiny stock.