Remove the legs from the table, using a screwdriver. Take the table legs and tabletop out to your workshop, or outside. This keeps sanding dust out of your home.
Sand the entire tabletop surface and each leg, using an electric hand-held sander and medium-grit sandpaper. Use a piece of medium-grit sand paper that has been folded to get into the grooves of the table legs if need be. Sand with the medium-grit until all old paint has been removed from the tabletop, and from each of the legs. Sand once more with a fine-grit sandpaper to ensure a smooth surface. Remove all dust, using a soft, clean cloth.
Cover the main surface areas of the table with any color latex washable paint, using a large paintbrush. Use a smaller paintbrush to apply the paint to the edges and the crevices of the table legs. Allow the first coat of paint four hours to dry, then apply a second coat. Allow the second coat of paint four to six hours to dry.
Apply a thin and even coat of polyurethane to the main surface areas of the tabletop and to the legs, using large paintbrush. Use the small paintbrush to apply the polyurethane to the edges of the tabletop, and to the cracks and crevices of the legs. Allow the first coat of polyurethane two hours to dry. Lightly rub the dried polyurethane with a piece of steel wool. This removes any bubbles or runs in the polyurethane, and helps the top coat of polyurethane adhere to the first coat. Wipe the tabletop and legs down with a soft, dry cloth to remove dust. Apply a second coat of polyurethane to the tabletop and legs and allow to dry for four hours.
Set the tabletop and legs in the kitchen or dining room. Put the legs back onto the table and place the table where you want it. Wait 12 to 24 hours before using or washing the table.