I would be now publishing my first app on Google play store. I have already compressed images used in my app. And I have some questions regarding the app size.
It is one option that you compress all your PNGs for that you can go to https://tinypng.com/ .
After that remove unnecessary library imports for example it is not require to import support library v4 if you already imported v7 for appcompat.
And finally after completion of signing procedure of apk use zipalign tool that is shipped with android-sdk for more details refer http://developer.android.com/tools/help/zipalign.html.
That's all i know.