Let's dive into this subtraction. We'll start with 38540 and subtract 38337 from it.

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

Step 2: We'll start by subtracting the digit 3 and the borrow 1 from 4 in column 2 and get 0.
0 is the next digit of our result.

Step 3: We'll start by subtracting the digit 3 and the borrow 0 from 5 in column 3 and get 2.
2 is the next digit of our result.

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

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

So, 38540 - 38337 = 203.