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