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In this Excel tutorial, presenter Mad Pencil demonstrates how to remove formulas while retaining data. Using a dataset that includes revenue, expenses, and net income (calculated as revenue minus expenses), he explains the process. The steps involve selecting the entire dataset, copying it, and then using the "Paste Special" option. In the dialog box, you select the "Values" option, which pastes only the values, eliminating the formulas. After completing this process, the formula bar no longer displays the formulas, only the resultant values. This method effectively simplifies the dataset by removing computational formulas while keeping the necessary data intact.