Problem 16-3 Dixon Development began operations in December 2018. When lots for industrial development are sold. Dixon recognizes income for financial reporting purposes in the year of the sale. For some lots. Dixon recognizes income for tax purposes when collected. Income recognized for financial reporting purposes in 2018 for lots sold this way was $10 million, which will be collected over the next three years. Scheduled collections for 20192021 are as follows: 2019 $ 4 million 2020 4 million