Okay, let's tackle this math problem. We're starting with 48549 and subtracting 42774.

Step 1: We'll start by subtracting the digit 4 and the borrow 0 from 9 in column 1 and get 5.
5 is the first digit of our result.

Step 2: We'll start by subtracting the digit 7 and the borrow 0 from 4 in column 2 and get -3.
We add -3 to 10 and get 7 as the next digit of the result.

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

Step 4: We'll start by subtracting the digit 2 and the borrow 1 from 8 in column 4 and get 5.
5 is the next digit of our result.

Step 5: We'll start by subtracting the digit 4 and the borrow 0 from 4 in column 5 and get 0.
0 is the next digit of our result.

So, 48549 - 42774 = 5775.