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In this video tutorial, the presenter reviews the steps for formatting quarterly income statement data and applying formulas. They emphasize copying already formatted data to maintain consistent formatting across three quarters. By using the shortcut Alt + E, S, users can paste only the format without altering the underlying data. The tutorial also demonstrates copying and pasting formulas for EBIT, PBT, and net income, ensuring data consistency. The process avoids re-entering formulas by simply copying them to the relevant cells. Finally, the presenter mentions the next step of importing data for the last two years of quarters.