Pedro sells investment land on September 1, 2018. Information pertaining to the sale follows:

Adjusted basis $25,000

Selling price 90,000

Selling expenses 1,500

Down payment 12,000

Four installment payments 15,000

Mortgage assumed by the buyer 18,000

Each installment payment is due on September 1 of 2019, 2020, 2021, and 2022 (ignore interest). Determine the tax consequences in 2018, 2019, 2020, 2021, and 2022.