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In this Excel tutorial, the presenter demonstrates how to remove formulas while retaining the underlying data. Using a dataset that includes companies' revenue, expenses, and net income (calculated as revenue minus expenses), the presenter illustrates the process. To keep only the values, you must select the entire dataset, copy it, and then right-click to choose "Paste Special." In the Paste Special dialog, selecting the "Values" option and clicking OK will replace the formulas with their calculated values. After this action, the formula bar will display only the values, confirming that the formulas have been removed.