Shown with a cast-on count of 32 stitches.  

• Row 1 (WS): P32.
• Row 2: K28, turn (28 sts).
• Rows 3, 5, 7, 9, 11, 15, 17, 19, 21, and 23: Purl.
• Row 4: K26, turn (26 sts).
• Row 6: K24, turn (24 sts).
• Row 8: K22, turn (22 sts).
• Row 10: K20, turn (20 sts).
• Rows 12 and 24: BO 6 sts, knit (26 sts).
• Rows 13 and 25: P3, M1L, p4, M1L, p4, M1L, p4, M1L, p4, M1L, p4, M1L, p3 (32 sts).
• Row 14: K1, [yo, k2tog] 13 times, k1, turn (28 sts).
• Row 16: K1, [yo, k2tog] 12 times, k1, turn (26 sts).
• Row 18: K1, [yo, k2tog] 11 times, k1, turn (24 sts).
• Row 20: K1, [yo, k2tog] 10 times, k1, turn (22 sts).
• Row 22: K1, [yo, k2tog] 9 times, k1, turn (20 sts).
• Repeat rows 2-25.