Please explain the above income statement as you were presenting.

\begin{tabular}{|l|r|r|r|} \hline \multicolumn{4}{|c|}{ Infinity Bag } \\ \hline \multicolumn{3}{|c|}{ Income Statement } \\ \hline & 2022 & 2023 & 2024 \\ \hline For the Year Ended Dec. 31 & 2023 \\ \hline Net Sales & $240,450.00 & $425,940.00 & $592,194.00 \\ \hline Cost of goods sold & $182,000.00 & $318,060.00 & $442,206.00 \\ \hline Gross Profit & $58,450.00 & $107,880.00 & $149,988.00 \\ \hline Labor & $12,000.00 & $18,000.00 & $30,000.00 \\ \hline Utilities & $3,000.00 & $5,000.00 & $6,500.00 \\ \hline Insurance & $2,400.00 & $2,400.00 & $3,600.00 \\ \hline Sales Promotion & $12,000.00 & $18,000.00 & $25,000.00 \\ \hline Delivery and Transportation & $6,000.00 & $12,000.00 & $16,500.00 \\ \hline Miscellaneous Total Expense & $1,500.00 & $1,500.00 & $1,500.00 \\ \hline & $36,900.00 & $56,900.00 & $83,100.00 \\ \hline Income Before Taxes & $21,550.00 & $50,980.00 & $66,888.00 \\ \hline Income Taxes & $6,465.00 & $15,294.00 & $20,066.40 \\ \hline Income After Taxes & $15,085.00 & $35,686.00 & $46,821.60 \\ \hline \end{tabular}