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In this Excel tutorial, the presenter demonstrates how to remove formulas while preserving data. Using an example with companies' revenue, expenses, and net income, the presenter shows that net income is calculated by subtracting expenses from revenue. To remove the formula but keep the net income values, the viewer is instructed to select the entire data set, copy it, right-click, and choose "Paste Special." In the dialog box, selecting the "Values" option and clicking OK will paste only the values, eliminating the formulas. This results in the formula bar displaying only the numerical values, confirming the formulas have been removed.