Draw the mechanism for the following reaction,and label each elementary step. 
Definitions:
External Equity
Financing obtained from sources outside a company, such as public stock offerings or venture capital investments.
Flotation Cost
Flotation cost is the total charges associated with creating and issuing new shares of stock, encompassing underwriting, legal, and registration fees.
Equity Capital
Funds raised by a company in exchange for shares of ownership, representing the value of shareholders' equity.
Retaining Earnings
Profits that a company has decided to keep or reinvest in itself rather than pay out as dividends to its shareholders.
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