The following selected account balances were taken from ABC Company's general ledgers for July: Inventory Notes payable Land July 1 $ 43,000 $101,000 $ 77,000 July 31 $ 87,000 $133,000 $ 82,000 $ 56,000 Retained earnings $ 39,000 Accounts receivable $ 42,000 $ 27,000 Salaries payable $ 26,000 Common stock $ 85,000 Accounts payable $ 53,000 $ 33,000 $148,000 $ 61,000 ABC Company's statement of cash flows for July included the following: Cash collections from customers Cash paid for salaries .... Net cash flows financing activities $406,000 $107,000 $ 50,000 inflow Calculate the amount of salaries expense reported in ABC Company's July income statement.