Help with "easy" pattern

I am trying to make a poncho and I am a new knitter. Here are the instructions:

1st Row:
Sl1K. *K2. yfwd. Sl1. K1. psso. Rep. from * to last st. K1.
2nd Row: Sl1P. *P2. yrn. p2tog. Rep. from * to last st. P1.

My question is in row one where it says to yarnforward, slip 1, then knit 1… do I put the yarn back after i slip the 1 stitch BEFORE I knit 1??? And do I mirror that in the second row?

Thank you for your help and patience in advance!

No… You leave the yarn at the front until you get to the k1 bit, when you knit this stitch, you will create an extra stitch as the yarn goes from the front to the back. This replaces the stitch lost in the psso bit of the instructions.

Thank you for your reply! We are giving it a go right now…

and I think I can do it!!! thank you for your help Dee! :muah: