Consider the following statements related to buoyancy in fluid statics:
1. Principle of buoyancy is applicable both to floating bodies and to submerged bodies.
2. Archimedes formulated the first theory of buoyancy.
3. In analyzing buoyancy of a floating body it is assumed that the resultant vertical force passes through centre of pressure.
4. In a free-body diagram of a floating body summation of all horizontal forces is taken as zero.
Which of these statements are correct?