Please show answers for each blank and steps to get correct answer.

Problem 18-42 (LO. 1, 2) Rasa and Jane form Osprey Corporation. Rasa transfers property (basis of $25,000 and value of $200,000) for 50 shares in Osprey Corporation. Jane transfers property (basis of $50,000 and value of $165,000) and agrees to provide accounting services in organizing the corporation; in return, Jane receives 50 shares in Osprey. The value of Jane's services is $35,000. a. What gain or income does Jane recognize? Jane has of $ b. What is Osprey Corporation's basis in the property transferred by Jane? How does Osprey treat the value of the services that Jane renders? Osprey Corporation has a basis of $ in the property it acquires from Jane, and it must the amount paid for services expense for the services Jane renders. as