Knitting Lace in the Round?

I have a pattern for lace, that knit flat is:

Round 1&3: Purl
Round 2: K1, *yo, k2tog, repeat from * to end of row
Round 4: *Ssk, yo, repeat from * to last stitch, k1

How do I knit that in the round??

You would knit rounds 1 and 3. That’s all.

Wow, that’s easy. . .I thought it would be more difficult than that! Thanks for the help!

It’s easy when the WS rows are just purl, you knit them instead. It’s when they have incs and decs on them too that it gets harder.