As the water eroded the sides of the crust, it carried sediments and deposited it rapidly around the world. The entire world was covered with water and sediments at this point. Meanwhile, the crust was gradually settling as the water underneath decreased. As the land mountain ranges were forming and as the sediments in the water settled, the water receded into the oceans we have now and also froze in the North and South poles.
The massive amounts of sediments from the crust erosion formed practically all the rock strata that we see today. So, instead of billions of years for it to form in the EM, it occurred within a year in the FM.
The rapid burial of the plants and animals caused the formation of most all the oil, coal, and fossils we find today.