Shown with a cast-on count of 12 stitches.  

• Rounds 1-8: K12.
• Rounds 9, 41, and 43: K5, M1L, k2, M1R, k5 (14 sts).
• Rounds 10 and 39: K14.
• Round 11: K6, M1L, k2, M1R, k6 (16 sts).
• Rounds 12 and 29-30: K16.
• Rounds 13 and 31: K7, M1L, k2, M1R, k7 (18 sts).
• Rounds 14, 26-27, and 32: K18.
• Round 15: K8, M1L, k2, M1R, k8 (20 sts).
• Rounds 16 and 35: K9, M1L, k2, M1R, k9 (22 sts).
• Rounds 17, 21, and 36: K22.
• Round 18: K1, M1R, k9, M1L, k2, M1R, k9, M1L, k1 (26 sts).
• Round 19: Ssk, k22, k2tog (24 sts).
• Rounds 20 and 23: Ssk, k20, k2tog (22 sts).
• Round 22: K10, M1L, k2, M1R, k10 (24 sts).
• Round 24: Ssk, k18, k2tog (20 sts).
• Round 25: Ssk, k16, k2tog (18 sts).
• Round 28: Ssk, k14, k2tog (16 sts).
• Round 33: K1, M1R, k16, M1L, k1 (20 sts).
• Round 34: K20.
• Round 37: Sl1-k2tog-psso, k16, k3tog (18 sts).
• Round 38: Sl1-k2tog-psso, k12, k3tog (14 sts).
• Rounds 40, 42, and 44: Ssk, k10, k2tog (12 sts).
• Round 45: Ssk, k3, M1L, k2, M1R, k3, k2tog.
• Round 46: Ssk, k8, k2tog (10 sts).
• Round 47: Ssk, k2, M1L, k2, M1R, k2, k2tog.
• Round 48: Ssk, k6, k2tog (8 sts).