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In this Excel tips video, the presenter demonstrates how to remove formulas from a dataset while retaining the displayed values. The example includes data for companies, showing revenue, expenses, and net income calculated by subtracting expenses from revenue. To keep the net income values without the formulas, the user selects the entire dataset, copies it, and then uses the "Paste Special" option. In the dialog box, they choose "Values" and click OK, which pastes only the values and eliminates the formulas. As a result, the formula bar displays only the values, confirming that the formulas have been removed.