Trying to import a .png file for my logo and I'm not understanding the result.

Using 2019 AutoCAD LT for Mac.  Go to FILE/ATTACH.  Choose the .png.  I don't change any of the settings.

This is the original file:

this is what imports:

Not sure where to even start looking for an answer on this.  I can load the .png into my image editor fine.  Is .png import even possible?