The home side had taken a fifth-minute lead through Paul Quinn's penalty-kick but second-half goals from Jordan Brown, James Redman, Stephen O'Neill and Ryan McGeever humbled the high-flyers.
Queen's Park remain bottom of the table without a point to their name after they were beaten 2-0 by Stirling Albion at Hampden.
Home keeper Michael Brown kept Stirling at bay until Sandy Cunningham's 83rd-minute opener, with Mark Ferry adding a second at the death.
Berwick Rangers rose to third place courtesy of an entertaining 4-2 triumph against Annan Athletic.
An early strike from Scott Dalziel handed Berwick a lead which was doubled by Kenny O'Brien before David Hopkirk halved the deficit.
Dalziel then got his second only for Ali Love to reply from the spot, before Darren Lavery sealed the points for the home side.
Goals from Lloyd Young and Bryan Deasley earned Montrose a much-needed 2-0 victory against Albion Rovers at Cliftonhill, while Dennis Wyness sealed the points for Elgin City in their 1-0 home win over Clyde.