Shown with a cast-on count of 50 stitches.  

• Rows 1, 9, 11, and 19 (WS): Knit.
• Rows 2, 10, 12, and 20: Knit.
• Rows 3, 5, 7, 13, 15, 17, 21, 23, 25, and 27: Purl.
• Rows 4 and 14: K1, *k2tog, yo, repeat from * to last st, k1.
• Rows 6 and 16: K1, *yo, k2tog, repeat from * to last st, k1.
• Row 8: K5, *k2tog, repeat from * to last 5 sts, k5 (30 sts).
• Row 18: K5, *k2tog, repeat from * to last 5 sts, k5 (20 sts).
• Row 22: K2, *k2tog, repeat from * to last 2 sts, k2 (12 sts).
• Row 24: K1, *k2tog, repeat from * to last st, k1 (7 sts).
• Row 26: K1, *k2tog, repeat from * (4 sts).
• Row 28: K2tog, k2tog (2 sts).
• Row 29: P2tog (1 st).