Help with Wording

Hi, I not sure how to do row 1. Hoping someone can help me understand it. It says K1, k2tog, k to last st., pick up loop between last and next st and work into the back of this loop (this will now be referred to as M1), k1 - 37 sts.
I know I knit 1, knit 2 together, but from there I’m lost. I hope someone can help me. Thanks

You do the make 1 just before the last stitch. So, just knit after you do the k2 tog (decrease) until you have 1 stitch left, do your M1 (increase), k the last stitch. At the end of the row, your stitch count will be the same as for the last row. Here’s a link you might find helpful. http://www.knittinghelp.com/videos/increases

Thanks so much. I didn’t want to proceed until I was sure I was doing it correctly. Thanks for your help and the link.