Formula to Reference an Outside Sheet If Specific Text In Cell Range Is Present It Will Compare Text in Two Ranges and Populate Text

I need a formula to reference an external workbook for to query a cell range for a certain entry to exist, and if that specific text is present, it will cross reference the a cell from a certain column in the same row and check if it is present in a column of the source sheet – if it does, it can populate with “Present”, and if it does not, populates with “Needs Added”.

In these example workbooks, I would like “Example Spreadsheet” Column B to house this formula. The Formulas will reference “Example Spreadsheet 2” cell range $A$2:$A for “Larry’s”, where “Larry’s” is present, it will compare cell range $D$2:$D in “Example Spreadsheet 2” to $C$2:$C in “Example Spreadsheet”. If present in both, it will populate with “Present” and if the store number is missing from $D$2:$D, it will populate with “Needs Added”.

The Links to the Example Spreadsheets are: