Correct:
SLEEVES
Using 4 mm needles, cast on 46[50:50:54:54] sts.
Row 1: K2, *p2, k2; rep from * to end.
Row 2: P2, *k2, p2; rep from * to end.
These 2 rows form k2, p2 rib.
Cont in rib until work measures 14 cm, 5½ in, ending with row 2 of rib.
For 1st and 2nd sizes only
Inc row (ws): Rib 3[1] sts,* rib 1 st, M1; rep from * to last 3[1] sts, rib 3[1] sts. 67[75] sts