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In this Excel tutorial, the presenter demonstrates how to remove formulas while retaining the data. The example used involves a dataset of companies with their revenue, expenses, and net income, which is calculated by subtracting expenses from revenue. To remove the formulas, the user is instructed to select the entire dataset, copy it, then right-click and choose "Paste Special." In the Paste Special dialog box, selecting the "Values" option and clicking OK will paste only the values, removing the formulas. After this process, the formula bar will show the value instead of the formula.