For the stitch pattern, wherever you read SKPO it should say SK2PO - slip one, knit two stitches together, then pass the slipped stitch over.

So the correct version reads:

WORK IN PATTERN

Row 1 K3, (yfwd, SK2PO, yfwd, K1) to last st, K1.

Row 2 P1, (K1, P3) to last 3 sts, K3.

Row 3 K5, (yfwd, SK2PO, yfwd, K1) to last 3 sts, K3.

Row 4 P3, (K1, P3) to last 5 sts, K1, P1, K3.

These 4 rows form pattern.