Mike owned 5,000 shares in A Computers Inc., a public company, with an adjusted cost base of $200,000. In order to save tax on the annual eligible dividend, he transferred these shares to his 16 year old daughter Emily as a gift when they were worth $250,000, on December 20, 2018. Emily received a $15,000 dividend from the shares on December 15, 2019. On December 30, 2019, Emily sold the shares for proceeds of $260,000 and invested the funds in a guaranteed investment certificate earning interest at 2.5%.

Determine the 2019 net income for tax purposes and taxable income for Mike. Mikes employment income is 124000. Briefly discuss the tax consequences regarding the A shares for Mike and Emily in both 2018 and 2019. What is Emily's net income and taxable income for 2019?