Removing the Tank Kit
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Turn off the water to the tank. Flush the toilet to remove the water. Place the bucket under the back of the tank under the toilet to catch extra water that remains in the tank.
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Remove the bolt that holds the water level valve at the bottom of the tank. When you remove this water will leak out into the bucket. Place towels around the floor to catch extra water that leaks. Remove the valve from the tank.
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Place the new valve kit into the tank. Tighten down the bolt until it is hand-tightened. Any tighter will cause the tank to crack. Turn the water on and see where the water level stops.
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Adjust the level of the water by turning the screw on the top of the valve stem. It will be a red or gray screw. There is a line on the overflow tube where the word "Water Line" are written. This line is where you want to adjust the water to. This is achieved by turning the screw either right or left until you achieve the proper level. Flush the toilet several times.
Replacing the Wax Ring
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Turn off the water to the tank. Flush the tank to remove the water. Place towels around the base of the toilet.
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Loosen the two bolts on the side of the tank with the rachet. Remove the toilet and place to the side.
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Remove the wax ring and dispose of it immediately. Wash your hands after touching it.
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Place the new ring on the drain pipe. Place the toilet back over the two bolts and tighten them down. Do not tighten more than hand-tight because any tighter will break the porcelain. Turn the water to the tank back on.