On December 31, 2018, Mr. Tom London gives shares with an adjusted cost base of $21,500 and a fair market value of $35,200 to his 9 year old son, Patrick London. On February 24, 2019, the shares pay eligible dividends of $2,060 ($2,843 taxable amount) and, on August 31, 2019, Patrick sells the shares for $39,800. Required: What are the tax consequences for Mr. London and Patrick in each of the years 2018 and 2019? If there are no tax consequences for either individual in a given year, you should clearly state this fact in your answer.