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In this Excel tutorial, the presenter, Mad Pencil, demonstrates how to remove formulas while retaining the data. Using a dataset that includes revenue, expenses, and net income (calculated as revenue minus expenses), Mad Pencil explains the process. To keep the net income value without the formula, you need to select the entire dataset and copy it. Then, right-click and choose "Paste Special." In the dialog box, select the "Values" option and click OK. This action pastes only the values, removing the formulas. The presenter confirms that after this process, the formula bar shows only the values, confirming successful removal of the formulas.