Berroco Knitting Tote

…pattern driving me batty!

Hello! I am kind of a new knitter and I am having problems with a kind of a tricky tote bag pattern I am trying. Here is the website I got the pattern off of if you want to see a picture of the finished product.
In the Pattern stitch Rnd 2 says to: * Sl 1 WYIB, yo, k1, pass sl st over yo and k1, …
I understand the abbreviations…but is it telling me to pass the slip stitch over the yarn over and the knit stitch ? Wouldn’t that bring my number of stitches down drastically each round? I’ll start with this question first…I might have others about this pattern. I appreciate your help so much!!
Sincerely
:??

[size=2]edit - [color=violet]mod squad was here[/color][/size]

Let’s see. You’re slipping one with the yarn in back, yo, k1, psso yo and k1, right? The yo stays on the needle, so that’s the increase needed to compensate for the psso.