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In this Excel tips video, the presenter demonstrates how to quickly remove formulas while retaining the data. Using a dataset that includes company revenue, expenses, and net income, the presenter explains that net income is calculated by subtracting expenses from revenue. To keep the net income values while eliminating the formulas, the steps are straightforward: select the entire dataset, copy it, right-click to access the "Paste Special" option, and choose "Values." After clicking OK, the formulas are removed, and only the values remain visible in the formula bar.