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In this Excel tips video, the presenter demonstrates how to quickly remove formulas from an Excel sheet while retaining the data. Using a dataset that includes revenue, expenses, and net income (calculated by subtracting expenses from revenue), the tutorial shows the process of selecting the entire dataset and copying it. The next step involves right-clicking and selecting "Paste Special." In the Paste Special dialog box, the presenter clicks on the "Values" option, which pastes the data without the formulas. After completing this step, the formula bar displays only the values instead of the original formulas, effectively removing the calculations while preserving the data.