"->" stands for "click on"

Assuming you are already in the Versalink's Configuration pages

->Configuration -> Advanced LAN -> DHCP ->
Drop Down DHCP Server to OFF -> Save -> OK

->Configuration -> Advanced WAN -> WAN -> First Edit Button ->
Drop Down Protocol to Bridge -> Drop Down Mode to Bridge ->
Set VC -> OK -> OK

...and if you decide to turn the wireless off as well

->Configuration -> Wireless -> Basic -> Drop Down Wireless Operation to OFF -> Save -> OK