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In this Excel tutorial, the presenter demonstrates how to quickly remove formulas while retaining the data. The example involves a dataset containing company revenues, expenses, and net income, which is calculated by subtracting expenses from revenues. To remove the formulas but keep the net income values, the user selects the entire dataset, copies it, right-clicks, and chooses 'Paste Special.' In the Paste Special dialog, selecting the 'Values' option removes the formulas, pasting only the values. After this action, the formula bar displays only the values for the selected cells, confirming that the formulas have been successfully removed.