Ruffle edge on first row

I am new to knitting and tackling my first intermediate pattern.
I have cast on 142 sts and pattern then says K1 * k1 cast off 1 st, rep from * to last 3 sts so should have 96 sts.
Can you explain what I need to do please


Knit the first stitch, then just repeat the instructions after * until you reach the last 3 stitches. Knit the last stitches to complete the row.
I think to do the cast offs you’ll be knitting 2 stitches, then passing the second stitch on the right hand needle over the first.