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In this Excel tips video, the presenter demonstrates how to quickly remove formulas while retaining the data. Using a dataset containing revenue, expenses, and net income, he explains that net income is calculated by subtracting expenses from revenue. To remove the formulas, the presenter instructs viewers to select the entire dataset, copy it, and then right-click to access the "Paste Special" option. By selecting "Values" in the dialog box and clicking OK, users can paste only the values, eliminating the formulas. After this process, the formula bar will display only the values instead of the original formulas.