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In this Excel tutorial, the presenter demonstrates how to quickly remove formulas while retaining the data. Using a dataset that includes revenue, expenses, and net income, which is calculated by subtracting expenses from revenue, the process involves selecting the entire dataset and copying it. After right-clicking and choosing "Paste Special," the user selects the "Values" option. Clicking "OK" pastes only the values, eliminating the formulas. As a result, the formula bar only displays the values, indicating that the formulas have been successfully removed. The video aims to simplify this process for users looking to retain their data without formulas.