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In this Excel tutorial, the presenter demonstrates how to remove formulas while retaining the displayed data. Using a dataset that includes revenue, expenses, and net income, the presenter explains that the net income is calculated by subtracting expenses from revenue. To eliminate the formulas, the user should select the entire dataset, copy it, and then use the "Paste Special" option. In the dialog box, selecting "Values" ensures that only the values are pasted, removing the formulas. After this action, the formula bar will show the numerical values instead of the underlying formulas.