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In this Excel tips video, the presenter demonstrates how to quickly remove formulas while retaining the data in Excel. Using a dataset with revenue, expenses, and net income (calculated as revenue minus expenses), the tutorial shows the steps to achieve this. First, the entire dataset is selected and copied. Then, the user right-clicks and selects "Paste Special," followed by choosing the "Values" option in the dialog box. After clicking OK, the pasted data contains only the values, with the formulas removed. The presenter confirms this by checking the formula bar, which now only displays the net income value without the original formula.