True or False?

Year-end #1: Cash 0 = + long-term debt 100 + capital stock 100 + opening retained earnings 50 + net income 50 + accounts payable 100 accounts receivable 150 inventory 50 fixed assets 200.

Year-end #2: Cash 100 = + long-term debt 150 + capital stock 150 + opening retained earnings 100 + net income 0 + accounts payable 100 accounts receivable 150 inventory 50 - fixed assets 200.

The company improved its cash position through long-term sources from financing.