Bitmap conversion: Creating bitmap that excludes transparent sides from transparent bitmap

I have a set of bitmaps. They are all transparent to some extent, and I don't know in advance which parts are transparent. I would like to create a new bitmap out of the original bitmap that excludes the transparent parts, but in a square. I think this image explains it:

I know how to create a bitmap out of a existing bitmap, but I don't know how to find out which part is transparent and how to use that to achieve my goal.

This is how I plan on doing this:

public Bitmap cutImage(Bitmap image) {
        Bitmap newBitmap = null; 

        int width = image.getWidth(); 
        int height = image.getHeight(); 

        newBitmap = Bitmap.createBitmap(width, height, Bitmap.Config.ARGB_8888); 

        Canvas canvas = new Canvas(newBitmap); 

        //This is where I need to find out correct values of r1 and r1.

        Rect r1 = new Rect(?, ?, ?, ?);
        Rect r2 = new Rect(?, ?, ?, ?);

        canvas.drawBitmap(image, r1, r2, null);

        return newBitmap; 
     }

Does anyone know how to achieve this?

EDIT:

I got it work using the following algorithm to find left, right, top and bottom values:

private int x1;
private int x2;
private int y1;
private int y2;

private void findRectValues(Bitmap image)
{
    for(int x = 0; x < image.getWidth(); x++)
    {
        for(int y = 0; y < image.getHeight(); y++)
        {
            if(image.getPixel(x, y) != Color.TRANSPARENT)
            {
                System.out.println("X1 is: " + x);
                x1 = x;
                break;
            }
        }

        if(x1 != 0)
            break;

    }

    for(int x = image.getWidth()-1; x > 0; x--)
    {
        for(int y = 0; y < image.getHeight(); y++)
        {
            if(image.getPixel(x, y) != Color.TRANSPARENT)
            {
                System.out.println("X2 is: " + x);
                x2 = x;
                break;
            }
        }

        if(x2 != 0)
            break;

    }

    for(int y = 0; y < image.getHeight(); y++)
    {
        for(int x = 0; x < image.getWidth(); x++)
        {
            if(image.getPixel(x, y) != Color.TRANSPARENT)
            {
                System.out.println("Y1 is: " + y);
                y1 = y;
                break;
            }
        }

        if(y1 != 0)
            break;

    }

    for(int y = image.getHeight()-1; y > 0; y--)
    {
        for(int x = 0; x < image.getWidth(); x++)
        {
            if(image.getPixel(x, y) != Color.TRANSPARENT)
            {
                System.out.println("Y2 is: " + y);
                y2 = y;
                break;
            }
        }

        if(y2 != 0)
            break;

    }
}