A vertical square coil of side length L L\,L carries a current III. The coil can rotate about a vertical axis OO′ OO'\,OO′ passing through its center. The plane of the coil is parallel to a uniform horizontal magnetic field of flux density BBB, which is directed from left to right as shown.

Which of the following statements is correct regarding the forces and torque acting on the coil?
A non-zero couple acts on the coil, causing it to rotate about the axis OO′OO'OO′.
The magnitude of the force acting on each horizontal side is ILBILBILB.
The forces on the vertical sides of the coil are equal in magnitude and point in the same direction.
The net torque acting on the coil about the axis OO′OO'OO′ is zero.