Hmm. Looks like it got through compiling and can't find libgd.a. From your error message, it looks like it wants this file to be in /usr/local/armtools-empeg/arm-empeg-linux/lib . If it's not there, copy it into there. If it is, then I'm not sure what's happening. I just removed my GD lib and tried to make, and got the same error you're reporting, so I'm guessing libgd.a isn't in that path.

Optionally instead of copying it in, you can just add another -L statement to your Makefile which points to where GD is installed by adding a -L argument to LDFLAGS:

LDFLAGS=-L/usr/local/arm/arm-empeg-linux/lib -L/path/to/gd/libraries -lgd -lpng -lz

Hope this helps.