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In this Excel tutorial video by Mad Pencil, the presenter demonstrates how to remove formulas from an Excel spreadsheet while retaining the resulting values. The tutorial focuses on a dataset containing company revenues, expenses, and net income, which is calculated by subtracting expenses from revenues. To remove the formulas, the presenter instructs viewers to select the entire dataset, copy it, and then use the "Paste Special" option. By selecting "Values" in the Paste Special dialog box, users can paste only the values and eliminate the formulas. This process results in the formula bar displaying only the values, confirming that the formulas have been successfully removed.