Boards. Inc., a manufacturer of snowboards, decided in October Year 1 that it needed cash to continue operations. It began negotiating for a one month bank loan of $100,000 starting Novermber 1, Year 1. The bank would chager interest at the rate of 1 percent per month and require the company to repay interest and principal on November 30, Year 1. In considering the loan, the bank requested a projected income statement and cash budget for Novermber. The following information is available:

- The company budgeted sales at 2,000 units per month in October Year 1, December Year 1, and January Year 2, and at 3,000 units in November Year 1. The selling price to distributors is $100 per unit.

- The inventory of finished goods on October 1 was 24,000 units. The number of units of finished goods inventory at the end of each month equals 20 percent of unit sales anticipated for the following month. There is no work in process.

- The company purchases materials, so it has no raw materials inventory.

- Selling expenses are 10 percent of gross sales. Administrative expenses, which include depreciation of $500 per month on office furniture and fixtures, total $33,000 per month.

- The manufacturing budget for snowboards, based on normal production of 2,000 units per month follows:

Materials	$80,000
Labor	20,000
Variable Overhead	10,000
Fixed Overhead(includes depreciation of $4,000)	60,000
Total	$170,000

a.) How much is the expected production in units for October, November, and December?

b.) Prepare a projected income statement for November.

Please show all work with answer.