Pedro sells investment land on September 1, 2019. 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 2020, 2021, 2022, and 2023 (ignore interest). Determine the tax consequences in 2019, 2020, 2021, 2022, and 2023.