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In this Excel tips video, the presenter demonstrates how to quickly remove formulas while retaining the underlying data. Starting with a dataset that includes revenue, expenses, and net income calculated from these, the presenter explains the process step-by-step. To keep only the values, you first select the entire dataset and copy it. Then, by right-clicking and selecting "Paste Special," you can choose the "Values" option. This action replaces the formulas with their corresponding values, resulting in a dataset where the formula bar only displays the net income value without any associated formulas.