Let's dive into this subtraction. We'll start with 54711 and subtract 23497 from it.

Step 1: We'll start by subtracting the digit 7 and the borrow 0 from 1 in column 1 and get -6.
We add -6 to 10 and get 4 as the first digit of the result.

Step 2: We'll start by subtracting the digit 9 and the borrow 1 from 1 in column 2 and get -9.
We add -9 to 10 and get 1 as the next digit of the result.

Step 3: We'll start by subtracting the digit 4 and the borrow 1 from 7 in column 3 and get 2.
2 is the next digit of our result.

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

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

So, 54711 - 23497 = 31214.