Consider the following statements regarding the heat budget of the earth:
1. Albedo is the amount of sunlight which is re fl ected back to the space by the earth’s surface.
2. Highest amount of insolation is re fl ected back into the space by snow covered peaks.
3. The amount of heat received by the surface of the earth in form of insolation
is equal to the amount re fl ected by it through terrestrial radiation.
Which of the above statements is/are correct?