Let's get this math done. We have 69465 and 30638, and we're going to subtract the second number from the first.

Step 1: We'll start by subtracting the digit 8 and the borrow 0 from 5 in column 1 and get -3.
We add -3 to 10 and get 7 as the first digit of the result.

Step 2: We'll start by subtracting the digit 3 and the borrow 1 from 6 in column 2 and get 2.
2 is the next digit of our result.

Step 3: We'll start by subtracting the digit 6 and the borrow 0 from 4 in column 3 and get -2.
We add -2 to 10 and get 8 as the next digit of the result.

Step 4: We'll start by subtracting the digit 0 and the borrow 1 from 9 in column 4 and get 8.
8 is the next digit of our result.

Step 5: We'll start by subtracting the digit 3 and the borrow 0 from 6 in column 5 and get 3.
3 is the next digit of our result.

So, 69465 - 30638 = 38827.