Excel formula - sumproduct

Hi there,

I have a formula that I pieced together, which I thought would work but unfortunately it doesn't and I can't figure out why. The need the formula to check for 3 different things. It needs to check column K for the presence of the letter "C", check column M for dates that match the date in reference cell E2 (month/year) and check column P for the word "New". I need it to return a number result of how many records match that criteria. Here's the formula I have so far...

=SUMPRODUCT(('In Processing'!K$2:K$5000="C")*(TEXT('In Processing'!M$2:M$5000,"mm/yy")=TEXT(E2,"mm/yy"))*('In Processing'!P$2:P$5000="New"))

Any help is sincerely appreciated!