Image Trace doesn’t render vectors

[carlanem]

Dear community, 

I create a new ai file, place a b/w png, Image Trace panel shows Preview checked, Trace button inactive. Trace button becomes active upon unchecking Preview button, yet clicking it does nothing but check the Preview button, thus return to the previous state. Png remains selectable as image, no vectors are created. 

Any idea?

Thanks!

[Doug A Roberts · Accepted solution]

Object > Image Trace > Expand

It's a live effect that can be adjusted until you do this.

[carlanem]

Great! Thanks so much!