An alternative would be to go to microsoft.com and find the DotNet redistributable package and provide a link to that alongside your executable. Other DLLs should not be distributed unless the license allows it. (The proper thing to do in this case would be to instruct the user how to obtain his own copy of the DLL.)
What I often do, since I usually distribute applications via the web, is distribute only the executable and other necessary files authored by me, and provide links to downloads for other components (unless they are small in size), avoiding large redistributables (especially the DotNet redistributable). But if you want it all in one package, Nate Bross has the right idea with the Deployment project (this is only available with Standard versions of Visual Studio or higher).