Pattern How To: Need Clarification :)

I am starting to make a Cowl - and the pattern starts off like this:

cast on 71 sts

row 1 - cast on 1 sts, cast off 1 st, k to end.

So i’ve already casted on 71 and i get that i’m going to be keeping the 71 sts throughout the pattern. What I don’t know how to do is cast on in addition to the 71 sts. Am I simply slipping the first st to the right needle? Or am I creating a whole new st for the right needle? any advise/imput is appreciated. Thank you!

CO 1 stitch (increase 1), BO 1 stitch (decrease 1), knit to end.

You are pairing an inc with a dec and therefore keeping 71 sts on the row. Since the CO is at the start of the row, I would use a knit CO or cable CO from the first stitch on your left hand needle. Then BO 1 (by knitting the next two sts and BO the first of those two). Then knit to the end.