Pedro sells investment land on September 1, 2015. 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 2016, 2017, 2018, and 2019 (ignore interest). Determine the tax consequences in 2015, 2016, 2017, 2018, and 2019.