Change the line :
gfx.DrawImage(Image.FromFile("wheel.png"), New Point(50, 50))
by :
gfx.DrawImage(Image.FromFile("wheel.png"), New Rectangle(0, 0, 225, 70))
A rectangle specify the size, so You will not worry about the weird scaling. You could even have you image in a variable object, and accessing this object .Height and .Width to fix the DrawImage issue.