Change the fill for the text to the same light orange RGB 255, 204, 0. Select the text with the Bevel Tool, drag any of the red arrows towards the center to change the bevel type to Inner Bevel. Change the Bevel Type to Rounded, the Size to 4pix, the Contrast to 70% and the Light Elevation to 30 degrees.

Drag the Light Angle arrow in the center of the bevel until it points straight down. This creates the impression of the letters being recessed.

Using the Ellipse Tool, and holding down the Ctrl key to constrain the ellipse to a circle, draw a 190 pixel diameter circle. Center it over the shape as shown. Change the fill to very pale yellow, RGB 255, 255, 204.

With the circle selected, select Convert to Editable Shapes from the Arrange menu.