Final answer:
The word 'derive' fits in the first blank, and 'compensate' fits in the second blank.
Step-by-step explanation:
The word from the options that best fits in the first blank is derive. This is because the student is expressing great pleasure from having their paintings in an art show and they can derive or obtain satisfaction from this accomplishment.
For the second part of the sentence, the word that best fits in the blank is compensate. This is because the student mentions that they can increase their income by selling some of their paintings, which means they can compensate or make up for their expenses through these sales.