Montana Company uses IFRS to prepare its financial statements $.$ Montana's income statement lists the following expenses. Which of the following statements is correct regarding Montana's income statement $?$ Supplies expense $$4,000$ Utilities expense $2,300$ Entertainment expense $3,300$ Montana is using the general expense approach $.$ Montana is using the function $-$of$-$expense approach $.$ Montana has violated IFRS reporting standards. Montana is using the nature$-$of$-$expense approach $.$