Mine

make -C libdvdcss
make[1]: Entering directory `/usr/src/mplayer/libdvdcss'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/usr/src/mplayer/libdvdcss'
make -C osdep
make[1]: Entering directory `/usr/src/mplayer/osdep'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/usr/src/mplayer/osdep'
cc -o mplayer mplayer.o m_property.o mp_fifo.o mp_msg.o mixer.o parser-mpcmd.o subopt-helper.o command.o asxparser.o codec-cfg.o cpudetect.o edl.o find_sub.o m_config.o m_option.o m_struct.o mpcommon.o parser-cfg.o playtree.o playtreeparser.o spudec.o sub_cc.o subreader.o vobsub.o unrarlib.o libvo/libvo.a libao2/libao2.a input/libinput.a vidix/libvidix.a gui/libgui.a libmpcodecs/libmpcodecs.a libaf/libaf.a libmpdemux/libmpdemux.a stream/stream.a libswscale/libswscale.a libvo/libosd.a libavformat/libavformat.a libavcodec/libavcodec.a libavutil/libavutil.a libpostproc/libpostproc.a loader/libloader.a mp3lib/libmp3.a liba52/liba52.a libmpeg2/libmpeg2.a libfaad2/libfaad2.a tremor/libvorbisidec.a dvdread/libdvdread.a libdvdcss/libdvdcss.a osdep/libosdep.a -lXext -lX11 -lpthread -lgtk -lgdk -rdynamic -lgmodule -lglib -ldl -lXi -lXext -lX11 -lm -lglib -L/usr/lib -L/usr/lib -Wl,-z,noexecstack    -lpthread -ldl -rdynamic  -lm   
gui/libgui.a(bitmap.o): In function `bpRead':
bitmap.c:(.text+0x2e9): undefined reference to `png_decoder'
collect2: ld returned 1 exit status
make: *** [mplayer] Error 1